Apollo Tyres to invest Rs 1800 crore in first phase in Andhra Pradesh_Apollo Tyres to invest Rs 1800 crore in first phase in Andhra Pradesh

Apollo Tyres to invest Rs 1800 crore in first phase in Andhra Pradesh

May 30, 2024

NEW DELHI: Apollo Tyres, headquartered in Gurgaon, on Tuesday said it will invest nearly $180 Chittoor, Andhra Pradesh, crore Rs 100 crore The area has set up a new manufacturing plant.

The company has allocated the first phase of the resource development unit and purchased 200 acres of land.

The construction of the project is expected to take place in the next 6 Tire production is expected to start in the next 24 months One month.

With the growing demand in this segment, the company plans to start producing passenger car tires at the plant and then expand to other product categories.

Andhra Pradesh Chief Minister N Chandrababu Naidu The plant says it will create jobs.

“We are happy that Apollo Tyres, an Indian multinational company, which recently set up world-class plants in Chennai and Hungary, has now set up national-level plants. This will reach around 7000 people. It provides employment opportunities directly to people and indirectly to many more, which will only increase as the company expands in the future.

Onkarr S Kanwar, Chairman, Apollo Tyres Limited, said, “In planning this state-of-the-art manufacturing plant, we have prepared India for capacity expansion over the next five years and beyond.”

Apollo Tyres currently has four manufacturing plants in India, two of which are located in Kerala (including a rental plant), Gujarat and Tamil Nadu. Outside India, the company has a manufacturing facility in the Netherlands and Hungary.

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