Apollo Tyres is planning to invest Rs 1700 crore for expansion, where it will invest bulk of it in its Chennai facility. The Chennai plant’s capacity will be increased to 12,000 truck-bus radials and 16,000 car tyres a day in a couple of years. The company is expecting the Chennai capacity to start coming on stream from the last quarter of 2016. The investment will be funded by internal accruals and borrowing.
The company will also spend 200 million Euros in a greenfield facility in Hungary in 2016-17. The company had spent a quarter of the planned capital expenditure in the Hungarian plant, which would have a capacity of 5.5 million car and light truck tyres and 675,000 heavy truck tyres.
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.
