Apollo Tyres has received an approval for greenfield project in Eastern Europe, at a project cost of approximately 500 million euro over the next 4 years, funded with accruals and debt at the company’s European subsidiary. The board of directors at its meeting held on May 15, 2014 has approved for the same.
The planned capacity is expected to be 16,000 Passenger Car Tyres (PCR) per day and 3,000 Truck Bus Radial Tyres (TBR) per day.
Apollo Tyres produces the entire range of automotive tyres for ultra and high speed passenger cars, truck and bus, farm, off-the-road, industrial and specialty applications like mining, retreaded tyres and retreading material. These are produced across Apollo’s eight manufacturing locations in India, Netherlands and Southern Africa.
