Company plans to invest Rs 1800 crores in this facility in the first phase
The foundation stone of Apollo Tyres’ ultra modern global scale manufacturing facility was laid today by Shri N Chandrababu Naidu, Honourable Chief Minister, Govt of Andhra Pradesh (AP) in the presence of Onkar S Kanwar, Chairman and Neeraj Kanwar, Vice Chairman & MD, Apollo Tyres Ltd. The planned facility of Apollo Tyres is located in Chinnapanduru village, Chittoor district, in the state of Andhra Pradesh bordering the south eastern coast of India.
Apollo Tyres has purchased 200 acres of land from the AP Govt for the manufacturing facility, and would be investing close to Rs 1800 crores 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. The company plans to start with manufacturing of passenger vehicle tyres in this facility, due to the growing demand in this segment, and will later on expand to start producing other product categories as well.
Speaking on the occasion Shri N Chandrababu Naidu, Chief Minister, Govt of Andhra Pradesh said, “I am very delighted to have Apollo Tyres, the Indian multinational, after setting its world-class facilities in Chennai and Hungary recently, now setting-up a state-of-the-art manufacturing unit in Andhra Pradesh. This will provide direct jobs to nearly 700 people and to many more indirectly, in the first phase. The employment opportunity would further get increased when the company expands in the future.”
Onkar S Kanwar, Chairman, Apollo Tyres Ltd said, “While planning for this state-of-the-art manufacturing facility, we have provisioned for the future capacity expansion requirements in India for the next 5 years and more. We are thankful to the AP Govt for excellent cooperation received from them so far, and are confident of getting the same going forward as well towards the smooth construction and management of this facility. As a responsible corporate, we would be more than happy to contribute towards Shri Chandrababu Naidu’s vision of making Andhra Pradesh a ‘sunrise’ state.”
Apollo Tyres currently has four manufacturing facilities in India -- two (including a leased facility) in the rubber-producing state of Kerala, and one each in Gujarat and Tamil Nadu. Outside India, the company has a manufacturing facility each in The Netherlands and Hungary.