MRF to invest Rs4,500 crore in Tamil Nadu to ramp up capacity
- Livemint" target="_blank">Livemint
- March 24, 2015
Chennai: MRF Ltd, the largest tyre maker in India, announced on Monday that will invest Rs.4,500 crore in its two factories in Tamil Nadu as part of its expansion plan.
The Chennai-based tyre company informed BSE that as part of its expansion plan, it proposes to invest in its plants at Perambalur and Arakonam in Tamil Nadu over seven years.
The government of Tamil Nadu considered the proposal and decided to accord ultra-mega project status under the Tamil Nadu Industrial Policy of 2014. The memorandum of understanding between the state government and the company in this regard is expected to be signed shortly.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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