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.
Israel Hamas War Israel has declared war after the Hamas attack. The conflict is still going on i
CNG Auto Ban: Will CNG autos not run on Delhi roads? What is the plan in the draft of EV Policy 2.0
CNG-powered auto rickshaws may soon disappear from Delhi roads. The draft of the Delhi government
Pakistan and some other countries are behind the violence in India after the remarks on Prophet M
Amidst the havoc of the heatwave in many parts of the country, there has been a sudden change in
Although the election of five states was already considered as the semi-final of the next general
Prime Minister Narendra Modi will be visiting South India on a two-day tour from today. As part o
US visit: PM Modi will not use Afghanistan's airspace, will fly over Pakistan
Prime Minister Narendra Modi on Wednesday left for a four-day US visit to attend the 76th session
Bollywood's Dabangg actress Sonakshi Sinha and actor Zaheer Iqbal's interfaith marriage has recen
Retail inflation went out of control for the third consecutive month in March due to rising food
10 newborn babies died due to a massive fire in the Neonatal Intensive Care Unit (NICU) at Jhansi
