Apollo Tyres spends HUF 4.4 bln to upgrade, broaden production palette in Hungary
India's Apollo Tyres is spending HUF 4.4 billion to upgrade its passenger car tire production lines and widen its product offering, Minister of Foreign Affairs and Trade Péter Szijjártó said at the company's plant in Gyöngyöshalász on Monday.
The government is supporting the investment, which is preserving 1,000 jobs, with a HUF 1.4 bln grant, Szijjártó said.
Apollo Tyres managing director Chikuluuri Krishna Kumar said production volume is on the increase, adding that agreements with two German carmakers had been reached in recent months.
He said the plant is operating at 90% capacity at present.
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