Apollo Tyres, which has entered into an agreement with the Andhra Pradesh (AP) government for a greenfield manufacturing plant, will get a host of concessions, including VAT/CST/SGST and power tariff rebate. The tyre major is expected to invest about Rs 525 crore on the plant in the phase one.
The State Investment Promotion Board (SIPB) has approved reimbursement of 100% VAT/CST/SGST for 20 years from the date of commencement of commercial production or up to realisation of 50 per cent of fixed capital investment, whichever is earlier.
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.
