Global tyre and rubber company Bridgestone has committed a $ 304.3 million (Rs 1,922 crore) investment to increase production and expand its human resources in India. The investment, to be done in a phased manner over five years, will see Bridgestone India’s Pune (Chakan) and Indore (Kheda) plants to further increase their production capacity.

The investment will enable the two plants to increase their tyre production capacity by an estimated 15,000 tyres per day, bringing total daily production from both plants to approximately 41,000 tyres by 2022. Furthermore, this investment will also be used for expansion of the size production mix capability for both plants to better match the evolution of car industry models being launched in the domestic market. This is also expected to create 450 jobs for skilled manpower.

Speaking on the announcement, Kazutoshi Oyama, executive director, 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. It 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.”

The company, which started its India operations in 1996, set up its first manufacturing plant in Kheda (Indore) in March 1998 and the Chakan (Pune ) plant in 2013.