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Apollo Tyres plans expansion in India
Seeing the boom in car sales renowned Indian tyre makers, Apollo Tyres Ltd, which is also partly owned by Michelin and Cie, to meet the growing demands is planning to invest Rs 10 billion rupees in its Chennai plant in order to increase its capacity.
THE PASSENGER car sales are booming up in India as economic growth boosted demand in Asia’s fourth-largest vehicle market. As General Motors Corporation, Nissan Motor Company and other automakers are investing big time to set up factories in India, the demand for new and replacement tyres may gain further.

The expansion plan includes adding production in factories in the western state of Gujarat and the southern state of Kerala as the company expects sales to rise faster this year than a year earlier. Though, the demand for new tyres may not be that much, but the replacements of tires will continue to grow. The tyre prices were increased recently and this will help them offset the increase in raw material prices.

Apollo is also expected to set up a new tyre plant in Hungary with an investment of around Rs 13 billion and another in Chennai with the investment of Rs eight billion. The plant in Hungary will hold the capacity of making seven million radial tyres for the European Union by 2012. For the Chennai plant, the company is investing eight billion rupees over the next three years.

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