Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
MRF Ltd has signed a non-binding memorandum of understanding (MoU) with the Tamil Nadu government to invest approximately INR 5,300 crore over 12 years to establish a greenfield tyre manufacturing facility in the SIPCOT Industrial Park at Sivaganga district. The proposed plant is expected to generate direct employment for around 1,000 people. The project remains subject to approvals, including a customised incentive package, land allocation and statutory clearances from the state government. The investment reinforces Tamil Nadu's manufacturing ecosystem and expands MRF's production footprint, which currently includes about 10 facilities across India producing passenger car radial, truck and bus radial, off-the-road and two-wheeler tyres.
MRF Ltd has entered into a non-binding memorandum of understanding with the Government of Tamil Nadu to establish a greenfield tyre manufacturing facility in Sivaganga district, committing an estimated investment of INR 5,300 crore over a 12-year period. Advertisement
The proposed plant will be located at the SIPCOT (State Industries Promotion Corporation of Tamil Nadu) Industrial Park in Sivaganga. According to the state government, the facility is expected to create direct employment for approximately 1,000 people once operational.
The MoU was signed through the state's investment promotion agency Guidance Tamil Nadu. At an event held at the Secretariat in Chennai, MRF Chairman and Managing Director K M Mammen and Vice Chairman and Managing Director Arun Mammen exchanged documents with Guidance MD and CEO Darez Ahmed in the presence of Chief Minister M K Stalin, Chief Secretary N Muruganandham and Industries Minister TRB Rajaa.
In a regulatory filing with the BSE, MRF stated that the agreement is non-binding and subject to the sanction of a customised incentive package, infrastructure support including land, and statutory approvals under applicable laws from the Tamil Nadu government.
The new facility will manufacture automotive tyres and allied products. MRF currently operates around 10 manufacturing facilities across India, producing passenger car radial tyres, truck and bus radials, off-the-road tyres and two-wheeler tyres.
The proposed investment further strengthens Tamil Nadu's position as a key automotive and manufacturing hub, while expanding MRF's domestic production capacity over the medium to long term.
Source - PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
