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Apollo Tyres to invest $1.5 mn a year to boost Mid-East exports

Apollo Tyres to invest $1.5 mn a year to boost Mid-East exports
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First Published: Thu, Jun 09 2011. 04 39 PM IST
Updated: Thu, Jun 09 2011. 04 39 PM IST
New Delhi: Apollo Tyres Ltd said on Thursday it will invest about $1.5 million annually to boost exports to the Middle East.
The company plans to attain a “high single digit, if not 10%,” market share in the region in the next 5 years, Satish Sharma, chief of its India operations, said in a statement.
Apollo Tyres expects a 3-fold rise in business volume in the Middle East in the next three years, the company said.
The company’s Middle East venture, which currently accounts for about 30% of its export revenue, is headquartered in Dubai.
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First Published: Thu, Jun 09 2011. 04 39 PM IST