Apollo Tyres to spend $320 mn on expansion

Apollo Tyres to spend $320 mn on expansion
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First Published: Mon, Aug 04 2008. 02 48 PM IST
Updated: Mon, Aug 04 2008. 02 48 PM IST
Reuters
Mumbai: Apollo Tyres Ltd will invest a total $320 million on expansion by building plants in India as well as South Africa, a senior official said on Monday.
This includes an invesment of 100 million rand (about $14 million) on two plants in South Africa to increase capacity to 270 tonnes a day from 180 tonnes now, Sunam Sarkar, chief of corporate strategy and marketing said.
The tyremaker is also investing 13 billion rupees ($306 million) on expansion projects in India, including plants at Chennai and Baroda, he added
Through the domestic expansion, Apollo Tyres’ passenger car radial tyres capacity would increase to 15,000 tyres per day from 10,000.
Its truck and bus radial tyres capacity would reach 1,100 tyres from 300 units now, Sarkar said in an e-mailed statement.
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First Published: Mon, Aug 04 2008. 02 48 PM IST