Apollo Tyres signed a Memorandum of Understanding with the Government of Andhra Pradesh to set up a manufacturing facility. The company is looking at investing approximately INR 525 crores towards setting up this facility in the state of Andhra Pradesh bordering the south-eastern coast of India.
The Memorandum of Understanding was signed today by Sunam Sarkar, Director, Apollo Tyres and Kartikeya Misra, IAS, Director of Industries, Government of Andhra Pradesh in the presence of N Chandrababu Naidu, Honourable Chief Minister, Government of Andhra Pradesh and Onkar S Kanwar, Chairman, Apollo Tyres.
The proposed manufacturing facility will be the fifth plant for Apollo Tyres in India. It has two plants in Kerala and one plant each in the states of Tamil Nadu and Gujarat. The company has international manufacturing presence with a one plant in the Netherlands and another Greenfield facility currently being set up in Hungary.