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Apollo Tyres signs option to buy land for plant in Hungary

Recycling

India's Apollo Tyres has signed an option to purchase 45 hectares in the Gyöngyös Industrial Park (NE Hungary), where it plans to build a €300-million plant.

The contract was signed with the local council of Gyöngyös and the industrial park's operator.

A week earlier, the local council said it approved a draft of a preliminary contract with the company on the construction of the plant. Mayor Attila Végh said the final contract will be signed after Apollo Tyres acquires all of the necessary permits for the plant's construction.

The planned construction of the plant has met with opposition from locals who say it will endanger the region's winegrowers and fruit farmers.

The government has awarded Apollo Tyres about €27 million in investment subsidies related to the plant. (MTI – Econews)

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