Apollo to Invest in Dutch, SA Tyre Plants
Indian manufacturer Apollo Tyres has announced it is to invest 6.6 million euros in its Enschede, Netherlands manufacturing unit to increase the plant's capacity from 5.1 million to 6 million tyres per annum. The company’s South African concerns in Durban and Ladysmith will also receive investments totalling a reported $30 million for expansion and equipment upgrades.
In its domestic market, Apollo is due to complete its Chennai Greenfield site by the end of 2010. Work commenced on the site last quarter. The company also reports it has sanctioned a further 3 billion rupee extension to the existing 20 billion investment.
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