State Investment Agency Looks for Alternative Sites for Apollo Tyres Plant

The Hungarian Investment and Trade Development Agency (ITDH) has started looking for sites for a new EUR 200 million factory which India's Apollo Tyres wants to build in Hungary, the Ministry of National Development and Economy said on August 15th 2008.

The ministry says that several cities have already expressed an interest in becoming the new location for the plant. Apollo Tyres stated on August 14th that it had asked ITDH to identify alternative locations in Hungary for the plant after withdrawing its plans to locate in Gyöngyös (in North East Hungary) because of delays in acquiring permits and a potentially divisive local referendum. Apollo Tyres added that it will also be searching for alternative locations in Europe at the same time.

News Monitoring