DEG – Deutsche Investitions- und Entwicklungsgesellschaft has announced a €30 million loan to JK Tyre & Industries Ltd (JKTIL) for the sustainable expansion of its production capacities in Madhya Pradesh, India. This funding underscores JK Tyre’s commitment to environmentally responsible growth and advancing its leadership in the Passenger Car Radial (PCR) tyre segment.
The funds will enable the company to implement green manufacturing technologies, including the use of biomass-powered boilers instead of coal, further reducing carbon emissions. JK Tyre has already achieved 40% of its energy needs through self-generated green electricity, placing it among the top three companies globally for energy efficiency in tyre manufacturing.
Joachim Schumacher, a member of DEG’s Management Board, commended the company’s alignment with UN environmental goals and its transformative approach to reducing carbon emissions.
Dr Raghupati Singhania, Chairman and Managing Director of JK Tyre, reiterated JK Tyre’s goal of reducing carbon intensity by 50% by 2030, underscoring sustainability as a core component of the company’s strategy.
DEG’s involvement also includes providing resource efficiency checks and advisory services to ensure responsible utilisation of natural resources. This partnership marks a continuation of JK Tyre’s transformative measures to achieve sustainability, which includes using renewable energy and adopting cutting-edge technologies in its operations.
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