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.
While the process of leaving employees continues at the Indian tech giant, Infosys investors suff
Russia-Ukraine War: Ukraine did a drone attack on Russia, blacking out in Bryansk region
The Russia-Ukraine war is about to complete a year, but the war between the two countries is stil
The parents of Air Force Group Captain and Indian astronaut Shubhanshu Shukla became emotional ab
Pakistan Cricket Team Arrives in India After 7 Long Years Pakistan Cricket Team arrived here on W
Gangster Sundar Bhati: The 30-year empire of notorious Sundar Bhati, a resident of Ghanghola vill
The fever of IPL 2024 will start from today. Defending champions Chennai Super Kings and Royal Ch
In a significant decision, the Supreme Court on Tuesday said that a state government cannot fix 1
Indian tech giant Infosys made a big announcement on Wednesday. In a statement issued by the comp
Salman Khan Threat letter Update: Bollywood actor Salman Khan has been the target of gangster Law
There has been a decline in Coronavirus Updates in India again. Five days later, less than one th
