Bridgestone India has announced that the company will work on expansion, with an investment of Rs 1939.37 crore. The investment will be in a phased manner, for the company's facilities in Indore and Pune.
The investment, which will be spread over a five-year period to keep up with the tyre demand in the country. Production capacity is expected to increase by around 15,000 tyres per day and by the year 2022, Bridgestone aims at manufacturing 41,000 tyres per day.
The investment will further enhance Bridgestone's supply, keeping in mind the growing vehicle population and production. Also, the expansion will open up 450 jobs for skilled labour.
Speaking about the investment, Kazutoshi Oyama, the Executive Director of Bridgestone India said, "This investment affirms our commitment to expand Bridgestone's footprint in India, which is one of the fastest growing markets in the world."
"The investment will enable Bridgestone India to be equipped with advanced manufacturing technology and processes that will allow us to better serve our customers with products of superior quality."
With an increased number of automobile manufacturers planning to make India their manufacturing and export hub, Bridgestone's plans for expansion comes in at the right time. Also, job opportunity for 450 skilled labours is a welcoming move.