Apollo Tyres today established the framework stone for a ₹1,800-crore tyre industrial facility in Andhra Pradesh.
The unit will be its seventh universally and will come up finished a 200 acres of land site in Chinnapanduru town close to Sri City in Chittoor area.
The industrial facility will give guide work to 700 individuals.
The establishment stone was laid by AP Chief Minister N Chandrababu Naidu, within the sight of Onkar S Kanwar, Chairman, and Neeraj Kanwar, Vice-Chairman and Managing Director, Apollo Tyres.
The office will create passenger car radial (PCR) tyres at first. The underlying limit will be around 5.5 million tires for each year and will serve both local and global markets.
The development work will begin inside the following a half year, and the industrial facility is required to be up and running in the accompanying two years.
“We are confronting a few deficiencies for PCR prerequisites. Five years back, we were a little player in the PCR fragment. Be that as it may, today, we are Number 2 in India in the section with solid supplies to vehicle makers and after-market demand.
“The brand has fortified itself over these years in the domestic market, while our fares have additionally been developing,” said Neeraj Kanwar.
In 2016-17, the PCR section represented 39 for every penny of the organization’s incomes, which remained at ₹13,060 crore.
He said the organization did not have land availability at Oragadam production facility close to Chennai to become further as it had officially extended completely there with a total venture of ₹5,000 crore.
“In Chennai, we are creating around 900 tons for each day. Be that as it may, in this new unit in Andhra Pradesh, we will deliver 180-200 tons every day in the principal stage,” he said.
In the following stage extension, might be following three-four years, the organization may take a gander at making commercial vehicle and off-highway tyres.
Kanwar likewise said Apollo Tires was on the verge of launching high-end motorcycle tyres out of its Vadodara facility.
Apollo Tires presently has four assembling offices in the nation — two (counting a rented office) in Kerala, and one each in Gujarat and Tamil Nadu. It has a production line each in the Netherlands and Hungary.