(MENAFN) According to the Hungarian government, India's Apollo Tyres announced building a second European plant in the country, with an overall cost of USD573 million, Xinhua reported.
The Hungarian government is offering almost USD124 million in investment supports, including tax concessions to the Indian company to encourage the project.
The new plant will be located in Gyongyoshalasz, about 80 km from Budapest, and will be greenfield project, offering a total of 975 new jobs.
The new factory's foundation stone will be laid in the second quarter of next year, while production at the plant is to starts in early 2017.
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