OtisConan - China Automobile Expert-CNAUTO

NEW DELHI: Apollo Tyres will invest Rs 5.25 crore to set up a manufacturing plant in Sri City, Andhra Pradesh, to produce 3 million tires per month. The company today announced that it has signed a Memorandum of Understanding (MOU) with the Andhra Pradesh government for the construction of the plant and plans to hold the foundation stone laying ceremony in January next year and start production “within a year”. This will be Apollo Tires’ fifth plant spread over 2,500+ acres to manufacture motorcycle and scooter tires. Apollo Tires chairman OS said, “We will start breaking ground in January and start production within a year.” Kanwar said. He added, “This amounts to a foreign direct investment in Apollo Tyres Holdings (Singapore) Pte Ltd, one of its Singapore subsidiaries.” In addition, the Apollo Group is also planning to invest in hospitals, logistics and other sectors in Singapore. “We are planning to set up a hospital ...

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Apollo to set up Rs 525-crore plant in Andhra Pradesh