Chennai, March 23 (IANS) Tyre major MRF Ltd plans to expand production capacity at its two plants in Tamil Nadu by investing Rs.4,500 crore over a period of seven years, the company said.
In a filing with the BSE, the company said that as part to its expansion plan it proposes to invest Rs.4,500 crore in its plants in Perambalur and Arakonam over a period of seven years.
"The government of Tamil Nadu considered the above proposal and has decided to accord 'Ultra Mega Project Status' under the Tamil Nadu Industrial Policy, 2014. The Memorandum of Understanding between the government and the company in this regard is expected to be signed shortly," MRF said.
Under the ultra mega project status, the state government offers various tax incentives.
The tyre maker has three plants located in Tamil Nadu, one each in Puducherry, Kerala, Goa and two in Andhra Pradesh.
Salaar Part-1 Trailer: The trailer of Prabhas' 'Salar' will remain a mystery, and the star cast will be banned from interacting with the media
The teaser of South's Rebel Star Prabhas' most awaited film 'Salar Part-1 Ceasefire' was released recently. The teaser has further increased the excitement of the fans. The special thing is that the
Elon Musk's heart came on singer Taylor Swift, this special tweet in support of singer, enthusiasm in fans
Elon Musk On Taylor Swift: Elon Musk is kind to Taylor Swift. Due to this, he is continuously posting about her on social media one after the other. The attention of many fans has also gone towards
Inflation: Growth rate of service sector lowest in four months due to high inflation
The pace of activity in the country's services sector slowed down to a four-month low in July this year. The growth rate of the services sector has registered a decline due to high inflation,
ED seizes 67,000 crores in 4 years: Where do the bundles of notes and gold ornaments found in the raids go?
ED is again in the headlines for its raids in high-profile cases. Within a week, the ED has recovered more than Rs 50 crore in cash and more than 5 kg of gold from the house of Arpita Mukherjee, a
Arvind Kejriwal runs Ayodhya card in Goa too, announces free pilgrimage if AAP forms government
Aam Aadmi Party (AAP) national convener Arvind Kejriwal on Monday announced that the people of Goa will get a free pilgrimage facility to Ayodhya if his party comes to power in the state after the
PM Modi: PM Modi gave a special interview to UAE newspaper, and spoke in detail on these issues before COP28
Prime Minister Narendra Modi gave an interview to a UAE newspaper on Friday. In this, he talked about many issues. He said, 'India hopes that COP28 hosted by the UAE will bring new momentum to
Estimate: Economy weakened due to the second wave of Corona, NITI Aayog said - it will take time to improve GDP
The second wave of Corona has dealt a big blow to the economy. The economy has been damaged due to the pandemic. Due to Corona, companies, factories, and industries have been closed for the last two
Due to increasing cases, the weekend lockdown in Nashik, hotspots in Thane were closed till 31 March.
Due to rising cases of Corona, there will be a lockdown in Weekend in Nashik and many other restrictions have been decided from Tuesday. After reviewing the situation of Chief Minister Uddhav
Pakistan Crisis: Biden not only told Pakistan the most dangerous country in the world, but these are also the main reasons..?
Two days ago, when US President Joe Biden described nuclear-armed Pakistan as one of the most dangerous countries, the world was shocked. The big reason for this is that Biden said this at a time when
'New mafiveer, one apology files should be made', Congress leader taunts Vivek Agnihotri's apology in court
Vivek Agnihotri, director of The Kashmir Files, apologized in the Delhi High Court on December 6 for his 2018 allegations. On this, now the Congress leader has taunted Vivek.
