Amtel invests $100m to make 20m tyres by 2006; Russian tyre maker has ambitious plans to expand,...

Byline: Liz White

Russian tyre maker Amtel has big plans for expanding its business. It aims to invest $50 million ([euro]39 million) in 2004, adding to over $100 million invested in the previous three years. And "As soon as we finalise our plans with a greenfield [tyre plant], this figure will increase by another $50 million or so," said Amtel president and majority owner Sudhir Gupta, in a 9 Feb telephone interview from Amtel's Moscow headquarters.

"By 2006, we will be producing over 20 million tyres a year" Gupta added.

Amtel's ambitions are e