MRF to invest Rs.4,500 crore in capacity expansion


Posted on 23rd Mar 2015 06:07 pm by mohit kumar

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.

0 Like 0 Dislike
Previous news Next news
Other news

IND vs PAK: Nine cricketers from India have experience playing against PAK in the World Cup, five such players in Pakistan

Team India will have enough experience in handling the pressure in the great World Cup match betw

Beware: Coronavirus can spread up to 10 meters ahead in the air, new government's guideline

The coronavirus can also spread through the air. Now the government has also fully accepted this.

Qatar's love for India... Cooperation will be provided in many sectors including economy, energy, and gas; meeting with PM Modi tomorrow.

The central government, which is moving ahead to increase the share of gas in its economy from th

Parents in India will keep an eye on their children's Instagram accounts, Meta has released a new feature.

Parents will now be able to keep an eye on teenagers using Instagram in India. Meta, the company

Rupee vs Dollar: The rupee weakened in the last years due to global reasons, Minister of State for Finance answered in the House

Replying in Rajya Sabha to a question related to the depreciation of the rupee against the dollar

1 Thousand 716 Cases In 29 States: 43 In Andhra And 23 New Cases In Maharashtra, Doctor Positive Of Government Hospital In Delhi

new Delhi. The number of coronavirus infections has increased to 1 thousand 716. On Wednesday, 20

Gujarat Violence 2002: Zakia Jafri got a setback from the Supreme Court, a petition filed against giving clean chit to PM Modi dismissed

The Supreme Court on Friday dismissed a petition filed by former Congress MP Ehsan Jafri's wife Z

Railway fired 177 employees in 16 months: every 3 days removed non-performer employee; Voluntary retirement to 139 officers

Railways have laid off 177 employees in the last 16 months. According to the news agency PTI, off

Climate activists punctured the tires of 900 cars: Said- carbon emissions from cars are increasing, this is a threat to the climate

A climate activist group named 'The Tire Extinguisher' performed uniquely in 8 countries of the w

Rashid Khan reminds world champion Australia, Nani, fought till the last ball, the whole world is saluting

If Rashid Khan is called the best player of the T20 format, it is not said in the air and the way

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash