MUMBAI, India (Dec. 17, 2007) — Apollo Tyres Ltd. said it will invest $27.3 million in the next fiscal year to increase production capacity for passenger radials 50 percent to 450,000 tires per month at its facility in Limda, India.
The increase is intended to serve the Indian market, as well as to meet rising export demand, an Apollo spokeswoman said.
Apollo operates four tire plants in India and two each in South Africa and Zimbabwe.