 "MRF inks MoU for Rs 4500 cr expansion in Tamil Nadu")
MRF, one of the major tyre makers in country, on September 10, 2015 signed an memorandum of understanding with the Government of Tamil Nadu to invest Rs 4500 crore to expand its tyre manufacturing plants in Tamil Nadu. “The company has signed the memorandum of understanding with the Government of Tamil Nadu to invest not less than Rs 4500 crore in its plants at Perambalur and Arakonam in Tamil Nadu over a period of 7 years,” said MRF in a BSE filing.
MRF currently has a capacity of making 1.2 lakh tyres a day across its plants in Tamil Nadu, Hyderabad and Goa. The proposed expansion would bring in 1.1 times the investment as turnover.
Besides in Tamil Nadu, the company is also planning to invest Rs 1,500 crore in Goa.
MRF currently has a capacity of making 1.2 lakh tyres a day across its plants in Tamil Nadu, Hyderabad and Goa. The proposed expansion would bring in 1.1 times the investment as turnover.
Besides in Tamil Nadu, the company is also planning to invest Rs 1,500 crore in Goa.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%