Apollo Tyres lines up Rs 4,500-crore capex for next two years

Company to set up a greenfield unit in India, and expand facilities in Chennai and Hungary

Tyre major Apollo Tyres has planned a capital expenditure (capex) of Rs 4,500 crore for financial years 2017-18 and 2018-19. The proposed capex includes setting up a new unit in India and expanding the existing facilities in Chennai and Hungary.

Gaurav Kumar, chief financial officer, Apollo Tyres, said the capex for FY18 across geographies was Rs 2,400 crore, which included expansion, maintenance, and capex for other projects. Of this, the Chennai plant would get close to Rs 1,000 crore. For FY19, capex is pegged at Rs 2,100 crore.

Speaking to analysts, Kumar said Apollo was increasing the manufacturing capacity of