Manufacturing Industry
Apollo Tyres to build radial tyre plant in southern India; Indian firm continues global expansion with passenger car tyre factory in southern India, close to NR supplies.(Brief article)
European Rubber Journal, September, 2006
Apollo Tyres Ltd. has picked a site in India's Tamil Nadu state for a new radial passenger, light and medium truck tyre plant, to be built at a cost of $112 million ([euro]87.2 million) over five years.
Apollo plans to acquire 135 acres (54.6 ha) in the Oragadam Industrial Park near Sriperumbudur, Tamil Nadu, for the plant, which would be Apollo's fourth in India.
Apollo will invest about $65 million in the coming two to three years during the plant's first stage, and $47 million thereafter in the second-stage buildup.
The company did not disclose projected capacity or employment.
Apollo said it chose a site in Tamil Nadu because of its proximity to India's rubber growing region, the presence of automobile manufacturers in the state,...
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