Leading Tyre Company, Apollo Tyres has commissioned the first phase of its greenfield project located in the Chittoor district of Andhra Pradesh. Spread across 256 acres, this plant will have a capacity to produce 15,000 passenger car tires and 3,000 truck-bus radials per day by 2022.
It will target premium OEMs and after-market customers in India. Chandrababu Naidu laid the foundation stone for this manufacturing plant way back in January 2018 and it is being commissioned from today. The company will invest around ₹3800 crores in building phase one of the factory in the next year and a half.
The subsequent investments will depend on the revival of demand in the European Markets. This project will generate employment for a total of 1350 people and will be the largest plant of Apollo Tyres in the country. This is the fifth manufacturing capacity of the company in India and the seventh in the world.
This is one of the marquee investments to the state during the Chandrababu Naidu’s regime besides Kia Motors, Hero Motocorp, Isuzu, and others