Firefighters from nearby areas have been sent to the scene.
"We can confirm that police have been deployed to a fire that can be seen from the A45 in Ryton. No road closures at this time," a Warwickshire Police spokesman said as quoted by the Daily Express.
According to media reports, around 40 firefighters and eight appliances are at the scene. The clouds of smoke are visible for miles around.
People living near the site are advised to close their windows and doors.