The tire maker is to set up a state-of-the-art manufacturing facility in Andhra Pradesh at an investment cost of approximately Rs 525 crores (US$76m).
Apollo Tyres has signed an MoU to establish a new facility in India. Shri N Chandrababu Naidu, honorable chief minister of Andhra Pradesh, said, “I am extremely pleased to announce this significant investment by Apollo Tyres
to build a world-class facility in Andhra Pradesh. Our endeavor to provide superior infrastructure and ensure full government support to companies has seen the state emerge at the top of the Ease of Doing Businessindex in the country.”
Onkar S Kanwar, chairman of Apollo Tyres, commented, “I would like to thank Shri Chandrababu Naidu Ji for the support offered to Apollo Tyres, and look forward to working with the state government for the setting-up of our state-of-the-art manufacturing facility. “