JK Tyre has secured a $100 million sustainability-linked loan from the International Finance Corporation (IFC). The loan comprises $30 million for JK Tyre & Industries Limited and up to $70 million for its subsidiary, Cavendish Industries Limited (CIL).
The funds will be used to expand 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. This initiative aims to drive energy-efficient tyre production, strengthen local supply chains, and create job opportunities.
Dr Raghupati Singhania, Chairman & Managing Director of JK Tyre & Industries, emphasized that this loan will strengthen their partnership with IFC and support their growth objectives. “This further solidifies our commitment to sustainable development and supports our strategy to grow in key product segments,” he said.
Riccardo Puliti, IFC’s Regional Vice President for Asia and the Pacific, highlighted that this is the first sustainability-linked loan in India’s tyre industry, setting a new benchmark for the broader manufacturing sector.
JK Tyre & Industries, part of the JK Organisation, is among the top 20 tyre manufacturers globally, with 11 manufacturing facilities, including 9 in India and 2 in Mexico, producing around 35 million tyres annually. With a global presence spanning 105 countries and over 180 distributors, JK Tyre has built an extensive international footprint. The company operates 12 sustainable manufacturing facilities—nine in India and three in Mexico—which produce around 32 million tires annually.
Its extensive network includes more than 6,000 dealers and specialized brand outlets known as Steel Wheels, Truck Wheels, and Xpress Wheels. Through this wide-reaching distribution, JK Tyre exports to about 100 countries, supported by over 230 distributors worldwide, making it a major player in the global tire industry.
