Apollo setting up Europe's largest greenfield tyre plant

Apollo Tyres is setting up Europe's largest greenfield production plant in Hungary. The company is reportedly investing 475 million Euros in the said project. The plant will start its production operations from early next year, and will have a capacity to produce 62 lakh tyres annually. These tyres will cater to the demand of the European markets.

This will be Apollo's first greenfield plant in Europe. It is located at Gyongyoshalasz, which is 100 kilometers away from Budapest. Construction of the manufacturing facility had begun in April 2015. The plant will be producing tyres for passenger cars as well as heavy commercial vehicles. 55 lakh passenger car and light truck (PCLT) tyres and 6.75 lakh heavy commercial vehicle (HCV) tyres can be produced at the plant, annually.

In addition to Apollo branded tyres, the plant will also produce tyres under the Vredestein brand, which was acquired by Appolo Tyres Ltd. in 2009.

Source: Money Control