10 Jul 2007
Madhya Pradesh, India - Bridgestone declined to make any comment on reports coming out of India that it is spending €48 million to upgrade its car tyre factory in Madhya Pradesh, India.
A report in the Indian Newspaper Business Standard said the company intends to invest there, and add steel-belted radial car tyre technology, but is seeking some concessions and support from the local government. The local government still has to discuss and approve these concessions. State policy in Madhya Pradesh is to offer all possible support to investors in the region.
The newspaper quoted a government official saying, “The company has said that it has planned to complete the expansion by December 2008 to add another 150 000 tyres for all vehicles per annum."
Business Standard said it has seen proposal documents that show Bridgestone intends to increase the existing capacity by 4000-6500 tyres per day.
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Bridgestone to invest Rs 263 crore in MP Business Standard (India)
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