Apollo Tyres to invest $1 billion on global expansion in 5 yrs
The second phase will entail an investment of around US$ 200 million and the proposed plant would have a full capacity of 24,000 units of PCRs per day and 3,000 units of TBRs a day.
"But, before we take up the second phase of the SE Asia project, we will start the greenfield plant in Eastern Europe. As of now, we have put our earlier plans to set up a plant in either Poland or Hungary on the backburner," he said.
Kanwar said the company is yet to finalise whether the SE Asia plant will come up in Thailand or Indonesia as it is still under negotiations with both the governments.
"The plant in SE Asia will mainly cater to the entire ASEAN countries and China, while 20 per cent of the production will be exported to Europe and Latin America," he added.
The proposed new plant in Eastern Europe will be for production of PCRs with an envisaged capacity of 7 million units per annum entailing a total investment of around US$ 350 million.
For the Kalamassery plant, which currently produces agricultural and industrial tyres, truck and bus tyres, Kanwar said Apollo Tyres will be investing about Rs 200 crore.
"We have taken a decision to convert this plant into a hub for production of OHTs. Only
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