Apollo increases production plans for greenfield plant
ERJ staff report (DS)
Chennai, India - Apollo Tyres has signed a letter of intent to increase capacity at its previously-announced greenfield tyre factory in Tamil Nadu, Southern India, according to a press release issued by the Tamil Nadu Government.
The tyre maker has always been a little sketchy about proposed plans for the unit in Tamil Nadu, but appears to have firmed up plans, following the new agreement.
In March 2008 the company proposed Rs 2200 million for construction of a, "world class green field radial facility in the recently acquired 135 acres of land in the Oragadam Industrial Park, outside Chennai city in Tamil Nadu." That was due on stream by the end of 2010.
The company now says it intends to invest Rs 21000 million (Euro 360 million) on the project, estimating production of 6000 truck and bus radials and 8000 passenger car radials daily. The plant would employ about 1100 said the release.
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Press release from Tamil Nadu Government (Tamil language)
Apollo Tyres signs MoU with TN Govt
Economic Times (India)
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