India, June 30 -- Japan's Kobe Steel Ltd will invest approximately USD 20.7 million to expand its Indian manufacturing subsidiary, Kobelco Industrial Machinery India (KIMI), capitalising on surging demand for tyre and rubber machinery driven by the country's automotive boom.

The steelmaker announced the expansion of KIMI, with completion targeted for fiscal 2027.

KIMI, established as L&T Kobelco Machinery Private Limited in 2010 through a joint venture with India's Larsen & Toubro, became a wholly-owned Kobe Steel subsidiary in 2019. The Chennai-based facility has since emerged as a key manufacturing hub for rubber mixers and extruders serving the Indian subcontinent.

The expansion comes as India's automotive sector experiences robust...