Apollo Tyres takes on lease 10,000 hectares of land in Laos for rubber plantation

In light of global shortage of natural rubber, Apollo Tyres (APL) has taken on lease about 10,000 hectares of land in Laos, in South-East Asia, for rubber plantation. APL is the first Indian company to acquire a property for growing rubber.

Apollo's largest unit is situated at Limda, in Gujarat, and its two other units are at Perambra and Kalamassery, Kerala. Its latest next generation plant is near Chennai and the four together have a combined production capacity of around 1,180 tonnes of tyres a day in India.

The company is expected to invest Rs 500 crore this fiscal on its units in India and abroad. Of this, 6 million euros would be invested in Europe, $30 million in South Africa and the rest in India. Further, the company is also expected to pump Rs 40 crore into its Perambra unit, in Chalakudy, and Premier Tyre facility, at nearby Kalamassery.