Apollo in final stages of selecting Asia plant location
Apollo Tyres is said to be finalising plans to establish a new greenfield factory in Asia. Indian financial daily The Economic Times reported on 8 April that the tyre maker is close to making a decision on location.
“We are in the final stages of discussions with the Thailand and Indonesian authorities for the location of this facility and are aiming to get the unit ready in two years,” the paper quoted Apollo Tyres vice-chairman and managing director Neeraj Kanwar as saying.
The greenfield plant will produce both passenger car and truck and bus radials; Apollo has previously pegged respective initial capacity for these two products at 16,000 and 1,500 units per day. This will be achieved with a US$250 million to $300 million first phase investment.
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