The brand new manufacturing plant might be Apollo’s fifth unit in India.
Apollo Tyres is planning to open a brand new manufacturing facility in Andhra Pradesh and has signed a Memorandum of Understanding (MoU) with the Authorities of Andhra Pradesh and can make investments roughly Rs 525 crore within the facility. At the moment, the corporate is having 4 manufacturing amenities throughout the nation ( 2 in Kerala, 1 in Gujarat and Tamil Nadu every). Within the worldwide markets, Apollo Tyres has one plant in Netherland, whereas a Greenfield facility is presently being set in Hungary.
For the brand new manufacturing unit in Andhra Pradesh, the MoU was signed by Sunam Sarkar, Director, Apollo Tyres and Kartikeya Misra, IAS, Director of Industries, Authorities of Andhra Pradesh within the presence of N Chandrababu Naidu, Honourable Chief Minister, Authorities of Andhra Pradesh and Onkar S Kanwar, Chairman, Apollo Tyres.
On this event, Onkar S Kanwar, Chairman, Apollo Tyres,mentioned, “I want to thank Shri Chandrababu Naidu Ji for the assist supplied to Apollo Tyres, and look ahead to working with the State Authorities for the setting-up of our state-of-the-art manufacturing facility. ”
N Chandrababu Naidu, Honourable Chief Minister of Andhra Pradesh, mentioned, “I’m extraordinarily happy to announce this important funding by Apollo Tyres to construct a world class facility in Andhra Pradesh. Our endeavour to supply superior infrastructure and guarantee full authorities assist to firms has seen the state emerge on the high of the Ease of Doing Enterprise index within the nation.”
Apollo Tyres is the seventeenth largest tyre producers on the earth. The corporate is having 5,000 dealerships in India out of which 2,500 are unique retailers. In March 2016, Apollo Tyre additionally entered into the two-wheeler tyre section. Within the first part, the corporate is planning to cowl 85 p.c of two-wheeler market and within the second part, they may launch radial tyres for the upper displacement bikes.
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