JK Tyre to invest Rs 12.5-billion in Laksar unit it bought from Birla Tyres

This will give a boost to industrialisation in the hill state

After acquiring the Birla tyres factory at Laksar area in Haridwar, the JK Tyre group has made a commitment to invest Rs 12.5 billion in the unit for further expansion.

Raghupati Singhania, the chairman and managing director of JK Tyre, met Uttarakhand Chief Minister Trivendra Singh Rawat on Thursday evening and gave details of the expansion plan.

Singhania said the company has already invested close to Rs 20 billion to acquire the factory from BK Birla Group company Kesoram Industries two years ago. A total of 4,500 workers are employed in the factory, he said.

“We are ready to invest Rs 12.5 billion