MRF Ltd's Rs 5,300 Crore Investment to Boost Tamil Nadu's Economy

MRF Ltd has signed a MoU with the Tamil Nadu government, planning to invest Rs 5,300 crore over 12 years to establish a new tyre manufacturing unit. This project in SIPCOT Industrial Park, Sivaganga will create jobs for 1,000 people, pending government approvals.

Tyre manufacturer MRF Ltd has committed to a significant investment in Tamil Nadu, signing a Memorandum of Understanding (MoU) with the state government. The agreement outlines a Rs 5,300 crore investment over the next 12 years to develop a new tyre manufacturing unit.

The facility will be established in the SIPCOT Industrial Park in Sivaganga district, projected to generate approximately 1,000 jobs as part of the broader economic initiative. The signing event was attended by key figures including MRF Ltd's senior leadership and Tamil Nadu's Chief Minister, M K Stalin.

MRF Ltd's expansion plan also hinges on governmental support, which includes incentives and necessary approvals. The company presently operates across 10 facilities in India, producing a range of tyres for different vehicle segments.

(With inputs from agencies.)