JK Tyre & Industries (JK Tyre) has secured a $100 million Sustainability-Linked Loan (SLL) from International Finance Corporation (IFC). The funding includes $30 million to JK Tyre and up to $70 million for Cavendish Industries (CIL), a subsidiary of JK Tyre.
The funding will support the expansion of tyre manufacturing capacity, focusing on Passenger Car Radial (PCR) tyres at JK Tyre's Banmore plant in Madhya Pradesh and Truck and Bus Radial (TBR) tyres at CIL's Laksar plant in Uttarakhand. The initiative aims to promote energy-efficient tyre production, strengthen local supply chains, and create jobs.
JK Tyre & Industries is engaged in the manufacture and marketing of automotive tyres, tubes and flaps.
