Apollo Hungary plant on schedule
Construction work at Apollo Tyres’ plant in Gyöngyöshalász in northern Hungary is on schedule, reported Hungarian business daily Napi Gazdaság, citing the Hungarian Investment Promotion Agency (HIPA).
The Indian tyre maker is building Greenfield plant in Hungary with an investment of 475 million euro.
The plant will be set up in Gyöngyöshalász in the Észak-Magyaroszág region over the next four to five years, and will have an initial capacity of 5.5 million passenger car & light truck tyres and 675,000 heavy commercial vehicle tyres per year.
The Hungary plant will produce both Apollo and Vredestein branded tyres and cater to the entire European market and complement Apollo Tyre’s existing facility in the Netherlands.
The plant is expected to generate 975 jobs.