Apollo tyres confirm project in Hungary

ERJ staff report (RD)

Gurgaon Haryana, India - Apollo Tyres has confirmed to ERJ reports it has signed an option to buy a 45- hectare (111.2-acre) plot 50 miles northeast of Budapest in the industrial park of Gyongyos, Hungary, are accurate.

The first phase of the project, originally announced by Hungarian Prime Minister Gyurcsany Ferenc in January will cost Euro 200 million.