Apollo Tyres is planning to set up new manufacturing plant in Thailand or Indonesia to manufacture passenger car tyres and truck and bus radials. In this regard, the company will invest Rs 1,600 crore in the first phase.
The new plant will help the company to achieve its aim of around Rs 32,500-crore turnover by 2016 that will catapult Apollo Tyres to the group of top ten global tyre manufacturers. The company, at present, has production capacity of 1,750 tonne per day. It also has operations in South Africa and Netherlands besides India.
