Bhopal — Japanese tyre giant, Bridgestone Corporation, has uncapped plans to invest a whopping Rs 259 crore to enhance its production facility at Pithampur near Indore in Madhya Pradesh.
Identifying India as a significant growth market in the Asia-Pacific region, Bridgestone, the largest tyre manufacturer in the world, aims to capture a third of the burgeoning passenger car market in the country.
The fresh investment will drive an over 40 per cent increase in the production capacity, taking the output to 15,000 tyres per day by the middle of next year.
Bridgestone will also employ another 300 people as part of the expansion plan in the country.
“The Indian market is our top priority in the Asia-Pacific region. We are going to put more focus on the Indian market than ever and are considering and discussing many possibilities for expansion,” Yoshihiro Tanabe, Asia Pacific General Manager for Consumer Marketing – Bridgestone, was quoted as saying.
(Based on Media Reports)