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Hungary: Local council signs preliminary agreement on Apollo Tyres plant

The local council of Gyöngyös (Northeast-Hungary) has approved the draft of a preliminary contract with Apollo Tyres on a plant the Indian company plans to build in the city, mayor Attila Végh said on Tuesday.

The final contract will be signed after Apollo Tyres acquires all of the necessary permits for the plant’s construction, Végh said. The planned construction of the plant has met with opposition from locals who say it will endanger the region’s winegrowers and fruit farmers.

Apollo Tyres plans to build a €300 million tyre plant in Gyöngyös, assisted by some €27 million in government investment subsidies. (MTI-Econews)