Apollo Tyres, one of India’s major tyre manufacturers on Thursday said it has signed a pact with Andhra Pradesh to set up a state-of-the-art manufacturing facility at an investment of Rs.5.25 billion (Rs.525 crore).
The proposed facility will be the 5th plant for Apollo Tyres in the country. It has two plants in Kerala and one plant each in the states of Tamil Nadu and Gujarat.
The company has international manufacturing presence with one plant in the Netherlands and another Greenfield facility currently being set up in Hungary.
The pact was signed by Apollo Tyres’s director Sunam Sarkar Andhra Pradesh’s industry director Kartikeya Misra in the presence of state chief minister N Chandrababu Naidu, and Apollo Tyres chairman Onkar S Kanwar.