Budapest - Apollo Tyres, India's largest tyre maker, has cancelled plans to build a plant in northern Hungary because of local political resistance, a news agency reported Thursday. Apollo is seeking a new site, in Hungary or elsewhere in Europe, for the 200-million-euro (300-million-dollar) plant, Hungary's MTI agency quoted the company as saying.
Apollo's Hungarian unit said the decision followed a call by the opposition Fidesz-Hungarian Civic Union party for a referendum against the proposed plant at Gyongyos, MTI reported.
The conservative party charges the plant will worsen environmental pollution in northern Hungary. Apollo denies that, saying the factory would keep to EU environmental rules.
Apollo said slow approval procedures at Gyongyos contributed to the cancellation, MTI said.
