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JK Tyre has secured a USD 100 million sustainability-linked loan from the International Finance Corporation (IFC).

Banking & Finance | Dated: 27 Jan 2025

In January 2025, the International Finance Corporation (IFC), based in Washington, United States, approved a USD 100 million Sustainability-Linked Loan (SLL) for JK Tyre, a leading Indian tyre manufacturer with a global presence. JK Tyre is based in New Delhi and is part of the JK Organisation, a major global group.

🎯 Key Highlights:

  • - This loan includes USD 30 million for JK Tyre & Industries Limited and up to USD 70 million for Cavendish Industries Limited (CIL), a subsidiary of JK Tyre.
  • - The company plans to use the funds to expand its production of passenger car radial (PCR) tyres at its Banmore plant in Madhya Pradesh (MP).
  • - The loan will also help increase the capacity of CIL’s Laksar factory in Uttarakhand to produce truck and bus radial (TBR) tyres.

💡 Other Important Facts:

  • This initiative is aimed at strengthening local supply chains, promoting energy-efficient tyre production, and creating job opportunities.

📚 Test Your Knowledge:

Which company recently secured a USD 100 million sustainability-linked loan from the International Finance Corporation (IFC)?

Correct Answer: JK Tyre

🚀 Quick Recap: