AP CM laid foundation stone for Apollo Tyres Factory

     Written by : SMTV24x7 | Tue, Jan 09, 2018, 06:23 PM

AP CM laid foundation stone for Apollo Tyres Factory

Chittoor, Jan 09: The Andhra Pradesh Chief Minister N Chandrababu Naidu has laid the foundation stone for Apollo Tyres Factory at Chittoor district.

Apollo Tyres today said it will invest around Rs 1,800 crore on a new plant in Andhra Pradesh, the company's seventh facility globally, to cater to the rising demand for passenger vehicle tyres.

The company said in a statement that it has purchased 200 acres of land for the facility and would be investing close to Rs 1,800 crore in the first phase. "The construction will start within the next 6 months, and the tyres are expected to start rolling out from this facility in the following 24 months," it added.

The plant is expected to provide nearly 700 jobs and too many more indirectly in the first phase. More jobs would be created later when the project is expanded.

Apollo currently has 4 manufacturing facilities in India-two (including a leased facility) in the rubber-producing state of Kerala, and one each in Gujarat and Tamil Nadu.