Apollo Tyres recently laid the foundation stone for their 7th global manufacturing facility at Chinnapanduru village, in the state of Andhra Pradesh, bordering the south eastern coast of India. The first stone was laid by Chief Minister of the state, N Chandrababu Naidu in the presence of Onkar S Kanwar, Chairman and Neeraj Kanwar, Vice Chairman & MD, Apollo Tyres Ltd.
Apollo Tyres has purchased 200 acres of land from the AP govt for the manufacturing facility and would be investing close to Rs 1,800 crores in the first phase. The construction will start within the next six months and the tyres are expected to start rolling out from this facility in the following 24 months. The company plans to start with manufacturing of passenger vehicle tyres in this facility due to the growing demand in this segment and will later on expand to start producing other product categories as well.
Commenting on this, N Chandrababu Naidu, Chief Minister, Govt of Andhra Pradesh, 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.”
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 five years and more. We are thankful to the AP Govt 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, with 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.