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Board of Balkrishna Industries shelves plans for greenfield tire project

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At meeting held on 10 August 2019

The Board of Balkrishna Industries at its meeting held on 10 August 2019 has transacted the following -

The Board in its earlier meeting had approved to set up a Green Field Tire Project of 20,000 MT5 per annum capacity with an estimated capital outlay of up to USD 100/- Mn through a wholly owned subsidiary company in USA. After reviewing various aspects of the project in the backdrop of current challenging economic and business environment, the Board has decided to put it in abeyance.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, August 10 2019. 17:00 IST