By: INN, Kolkata, @infodeaofficial;
The foundation stone of the manufacturing facility of Apollo Tyres was laid recently at Chinnapanduru village, Chittoor district, Andhra Pradesh by N Chandrababu Naidu, Chief Minister, Govt of Andhra Pradesh (AP).Onkar S Kanwar, chairman and NeerajKanwar, Vice chairman and MD, Apollo Tyres Ltd were also present at the programme.
The land of 200 acres was purchased from the AP government and would be investing close to Rs 1800 crores in the first phase. In the next six months, the construction will be started and the tyres will start rolling out from this facility in the next 2 years or more. There will be manufacture of passenger vehicle tyres in this facility due to the growing demand in this segment, and later it will start producing other product categories as well.
Speaking on the occasion Shri N Chandrababu Naidu, Chief Minister, Govt of Andhra Pradesh said, “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. As a responsible corporate, we would be more than happy to contribute towards ShriChandrababu 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.