Apollo Tyres has signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh. The tyre major is keen to set up a state-of-the-art manufacturing facility in Andra Pradesh at an investment of Rs.525 crore. The proposed manufacturing facility will be the fifth plant of Apollo Tyres in India. The company has two plants in Kerala and one plant each in the states of Tamil Nadu and Gujarat. Internationally, it has one plant in the Netherlands and Hungary. The Greenfield facility in Hungary is expected to go on stream soon.
