Apollo Tyres Ltd. has set the cornerstone for a new tire manufacturing plant in Chinnapanduru village along the southeastern coast of India. It will be the company's fifth plant in the country.
Shri N Chandrababu Naidu, honourable chief minister of the government of Andhra Pradesh (AP) laid the stone in the presence of Onkar Kanwar, chairman, and Neeraj Kanwar, vice chairman and managing director, of Apollo. Apollo has purchased 200 acres of land from the AP government to build the facility, and would be investing close to 18 billion Indian rupees (about $282.8 million) in the first phase. Construction will begin within the next six months, and tires production is expected to begin in the next two years. Passenger tire production will be the first order of business, due to growing demand, Apollo says. Production will expand to other product categories in the future.
Naidu, the chief minister, 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.” Chairman Onkar Kanwar 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 five years and more. We are thankful to the AP government 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 state of Kerala, and one each in Gujarat and Tamil Nadu. Outside India, the company has a manufacturing facility each in The Netherlands and in 2017 opened a plant in Hungary.