Apollo Tyres signs INR 525 crore MoU with Andhra Pradesh
A Memorandum of Understanding has been signed between Apollo Tyres and the Government of Andhra Pradesh for a new plant to be set up within the state. The ground breaking ceremony will be held in January 2017.
The new Apollu Tyres plant will be spread across 250 acres on the industrial corridor in Chittoor District. This will be Apollo Tyres 5th plant in India and it will have the capacity to roll out 3 million tyres per month for scooters, motorcycles and pick-ups.
The new facility in Andhra Pradesh will produce two wheeler tyres and tyres for pick-ups which are currently being produced by some third party on behalf of Apollo Tyres.
Besides the upcoming facility in Andhra Pradesh, Apollo Tyres also has two plants in Kerala, one plant in Tamil Nadu and another plant in Gujarat. Overseas, the company has a plant in the Netherlands, operational since 2013, while its Greenfield facility in Hungary is currently underway. Apollo Tyres has also established two satellite R&D Centers in Bengaluru and Germany.
The MoU for setting up a plant in Ahndra Pradesh was signed by Sunam Sarkar, Director, Apollo Tyres and Kartikeya Misra, IAS, Director of Industries, Government of Andhra Pradesh. Also present at the occasion were Chief Minister Shri N Chandrababu Naidu and Onkar S Kanwar, Chairman of Apollo Tyres.