The home-grown tyre manufacturer, Apollo Tyres is currently on an expansion spree and the company has recently said that it will be investing Rs 1100 crore this year in its 9 plants in India and abroad.

Apollo Chairman, Onkar S Kanwar recently said that the company is currently looking at various countries for expansion and depending on raw material availability and expansion of market, a decision would be taken. It has been learned that the company is focusing on Asia as a continent for its expansion in the current year.

Moreover, Kanwar also pointed out the fact that the total capacity of the Indian plants will touch 1450 tonnes, while 200 tonnes each would be added to the South African and European plants.

He also highlighted that close to Rs 900 crore investments would be made in Apollo's five plants in India.

It is to be mentioned here that the tyre industry is a whole is currently suffering from margin pressures and it is believed that the coming times will put all the more pressure on the margins of the local tyre manufacturers.