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.
India vs West Indies 2nd ODI: In the second ODI being played at the Narendra Modi Stadium in Ahme
Mumbai terror attack mastermind Tahawwur Rana was finally brought to India on Thursday evening. R
RCB won the WPL trophy by defeating Delhi Capitals on Sunday night at the Arun Jaitley Stadium in
Indian cricket team's opening batsman Shikhar Dhawan is out of the team these days. Even away fro
India vs Pakistan Hockey World Cup Today: India Eyes Top-8 Spot After 10-Year Unbeaten Run
The much-anticipated India-Pakistan clash will take place today in the Men's Hockey World Cup. Th
Ranbir Kapoor and Bobby Deol starrer 'Animal' has been in the headlines ever since its teaser was
Hyderabad Police has summoned 'Pushpa 2' actor Allu Arjun for questioning in the theater stampede
According to Brihanmumbai Municipal Corporation figures, the city has witnessed a 54 per cent dec
China-Pakistan bent on destroying the world, an even more deadly virus than corona, together
The friendship between Pakistan and China is not hidden from countries around the world. China ha
Diamond Crown for Ram Lalla's Idol: The program of consecration of Ram temple in Ayodhya has been
