Apollo Tyres of India is believed to have chosen Chennai, Tamil Nadi, as the site
of its new radial tyre factory.

The company, investing Rs.4.5 billion ($US97 million) in the project’s first
phase, is aiming to have a production capacity of four million radial tyres
per year by the end of the initial investment stage.

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Apollo, which also has plans to acquire a radial tyre factory in Indonesia,
has set a target of Rs. 50 billion turnover and Rs. 5 billion gross profit by
2005.

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