One of major tyre manufacturers of India, Apollo Tyres announced that it will be investing Rs. 1, 100 crore in nine of its plants in India as well as outside, during this year.

The information was given by one of key officials of the company who said that Apollo is going into the expansion mode.

As per the plans, a capacity addition of 1,450 tons will be done in India while another 200 tone would be added in European and South African plants.

Talking to media, Apollo Chairman Onkar S Kanwar said that it is sure that expansion will be done but some key final decisions are going to be made after assessing the situation of raw material availability.

In further description, he said that Rs. 300 crore will be invested in Chennai as greenfield. This makes truck-bus radial and passenger car tyres so that it becomes the most efficient and modern plant in Asia. The plant has started production.

Only Diploma holders are going to be employed in the plant which is going to be purely IT-based. The plant is to make 16,000 passenger cars and 6,000 truck radials every day.