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Apollo Tyres to invest Rs 300 crore at Kalamaserry

Published: 10th August 2012 09:53 AM  |   Last Updated: 10th August 2012 09:53 AM   |  A+A-

Apollo Tyres Ltd, will be investing Rs 300 crore at its Kalamasserry unit in two years with a view to converting  it into a 100 per cent export oriented unit. The initial investment will be `50 crore, Onkar Kanwar, Chairman, Apollo Tyres said here on Thursday. The company is in the process of converting this unit into an industrial tyre unit and will export products from Kalamasserry to Europe, South America and North American countries. Neeraj Kanwar, Managing Director,  Apollo Tyres said that it will invest `150 crore in India during this period. The company has registered a turnover of `12,150 crore in the financial year 2011-12, with a growth rate of 37%.  ENS

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