Apollo Tyres to invest Rs 700 cr this fiscal
April 30, 2009 by admin
Tyre manufacturer Apollo Tyres is planning to invest about Rs 700 crore in 2009-10, 90% of which will be utilized for the completion of Chennai greenfield facility and the balance for its ongoing maintenance, company officials announced.
The company is setting up a tyre manufacturing facility in Chennai having an initial capacity of 150 tonnes per day, expandable up to 450 tonnes per day.
It had announced an initial investment of Rs 550 crore in the facility while starting the construction work in September 2008.
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