Apollo Tyres Announces Significant Investment In Hungary

Apollo Tyres has unveiled plans to build a manufacturing plant in Hungary. According to industry sources, the Indian carmaker has earmarked EUR300mn for the project, making it the biggest investment ever made by an Indian company in the country. Construction of the plant is expected to begin in April 2008, with production beginning some 18 months later. In a boon to the chosen location for the plant, Gyöngyös, which has a high level of unemployment, some 1,500 new jobs will be created.

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