Apollo Tyres has set aside over Rs 3,200 crore for its domestic as well as European operations for FY17. Of total, the company has lined up a capex of Rs 1,700 crore for domestic operations and an additional 200 million Euro (over Rs 1,510 crore) for the European operations in the current financial year.
In India, the most of the investment would go into the company’s Chennai-based manufacturing facility and its upcoming plant in Hungary. The company is in the process of doubling its truck bus radial tyre capacity at Chennai plant to 12,000 tyres a day from the current 6,000 tyres per day.
Apollo Tyres is one of the leading tyre manufacturers in India with its product portfolio spread across tubeless and tube type tyres for cars, suvs, trucks, buses etc.
