Apollo Tyres begin construction of Hungary-based facility

Apollo Tyres has begun the construction of its first Greenfield facility in Hungary. The tyremaker laid the foundation stone of this plant which will start production in early 2017. This facility will cater to the demand of the entire European market while further complementing the company’s existing facility in the Netherlands.

Viktor Orban, Prime Minister of Hungary and Onkar S Kanwar, Chairman of Apollo Tyres, jointly laid the foundation stone of the facility in the presence of various executives of the company.

The tyre maker is set to invest Rs 3,450 crore over the next five years to set up this facility in the new industrial zone near Gyongyoshalasz, Hungary. Once completed, the plant will have a capacity to produce 55 lakh passenger car and light truck tyres and 6.75 lakh heavy commercial vehicle tyres annually.

Currently, Apollo Tyres has four manufacturing units in India, three in Southern Africa and one in the Netherlands. The combined production capacity of all facilities put together is 1,700 tonnes per day.