Apollo Tyres is planning to set up of new state-of-the-art manufacturing facility at Andhra Pradesh. The capacity of passenger vehicle tyres in the proposed plant will be 5.5 million tyres p.a. in the first phase.
The first tyre roll out is expected to happen in approximately 2 years from the start of construction. The company will invest Rs 1800 crore in the first phase which will provide direct jobs to nearly 700 people. Moreover, the company will fund the same by a mix of internal accruals and raised capital (Debt and/ or Equity).
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.
