Apollo to build 500 million euro tyre factory in Eastern Europe
Apollo Tyres’ board has approved plans to build a new tyre factory in “Eastern Europe”, with 500 million euros earmarked for the project. According to the company, the greenfield project will see the tyre manufacturer invest half a billion euros over the next years, funded by “accruals and debt at the company’s European subsidiary”. The capacity is expected to be 16,000 passenger car radial (PCR) tyres a day and 3000 truck and bus radials a day.