JK Tyre receives $100 million sustainability-linked loan from IFC

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JK Tyre receives $100 million sustainability-linked loan from IFC - Business Standard

Quick Summary:

"By aligning financing to sustainability goals, we aim to drive positive environmental and social impact while achieving our growth objectives," JK Tyre & Industries Chairman and Managing Director Raghupati Singhania said.

The funding will support the company's expansion of passenger car radial (PCR) tyre capacity at the Banmore plant in Madhya Pradesh, it added.

The funding includes USD 30 million for JK Tyre and up to USD 70 million for Cavendish Industries Ltd (CIL), a subsidiary of the company, the tyre maker said in a statement.