December 12, 2024 – DEG – Deutsche Investitions- und Entwicklungsgesellschaft has extended a long-term loan of EUR 30 million to JK Tyre & Industries Ltd (JKTIL), a leading member of the JK Organisation. This funding will support the sustainable expansion of production capacities at the company’s facility in Madhya Pradesh.
Joachim Schumacher, a member of the DEG Management Board, emphasized, “Our partnership reflects a shared commitment to sustainability, the UN’s environmental goals, and substantial carbon reduction.”
Dr. Raghupati Singhania, Chairman & Managing Director of JK Tyre, highlighted the significance of this funding for their Passenger Car Radial (PCR) tyre project. “This investment strengthens JK Tyre’s market presence and reinforces our commitment to sustainability. We aim to reduce carbon intensity by 50% by 2030,” he stated.
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JK Tyre has already implemented transformative measures, such as producing 40% of its energy from green electricity and ranking among the top three globally in energy efficiency. The new loan will enable further advancements, including biomass-powered boilers and tyres made from recycled materials.
DEG’s strategic shift toward sustainable solutions aligns with JK Tyre’s vision. The partnership underscores a mutual dedication to resource efficiency, economic growth, and climate action.
