Write News

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.

Did you know?Explore Trending and Topic pages for more stories like this.

0 0

Tweet

Other news

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

After Bengal, 'Remal' wreaked havoc in the northeastern states, many people died due to mine collapse; Road washed away in Assam

Dangerous cyclonic storm Remal reached West Bengal and Bangladesh on Sunday night with a speed of

India extended its help to Sri Lanka again: 3800 crores will be given to buy oil, China is still not ready to give concession in debt

Demonstrations against the Rajapaksa government continued in Sri Lanka on Wednesday in several ci

The funeral of the husband of 38 wives stopped: Family claims Ziona Chana is alive, her body is still hot and breathing is also going on

The family of Ziona Chana of Mizoram, head of the world's largest family (167 people), is not rea

Elections taking a violent stand in Ayodhya's Gosaiganj, BJP and SP supporters clash again

There was a dispute between SP candidate Abhay Singh from Gosainganj and Vikas Singh, a supporter

Bangladesh violence: Hatred is not decreasing in Bangladesh, now BNP leader burnt his wife's saree in protest against India

A controversial incident has come to light amid increasing cases of atrocities on minority Hindus

PM Modi is calling the Corona Warriors, the nurse said in the conversation- you too are our god

new Delhi

Prime Minister Narendra Modi is calling personally to boost the morale of the C

Ten schemes will be started in the name of great men in the state, from Lakshmibai to Kabir-Shabri included, read the full list.

Chief Minister Yogi Adityanath announced several ambitious schemes during the discussion on the b

PM Modi spent four hours in the White House, reading about the issues discussed from defense to the extradition of Tahawwur Rana?

The meeting between President Donald Trump and PM Narendra Modi has prepared a blueprint for the

IND vs AUS: Team India leaves for Australia in batches, Virat and Rohit also catch a flight

The Indian cricket team is touring Australia to play three ODIs and five T20Is. The ODI series be