Apollo Tyres lines up Rs 4,500-crore capex for next two years
Tyre major Apollo Tyres has planned a Rs 4,500-crore capital expenditure (capex) for financial years 2017-18 and 2018-19, to set up a greenfield facility in India and brownfield expansions in Chennai and Hungary. Gaurav Kumar, chief financial officer, Apollo Tyres said that the capex for FY18 across geographies is Rs 2,400 crore. This includes expansion, maintenance, and capex for other projects. Chennai plant would get around Rs 1,000 crore from the planned capital expenditure.For FY2019 the capex is pegged at Rs 2,100 crore.
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