MRF signs MoU with TN government for ₹5,300-crore tyre plant in Sivaganga

Tyre company MRF Ltd signed an MoU with the Tamil Nadu government on Wednesday to invest Rs 5,300 crore over 12 years to build a new tyre factory in the state.

The new factory, to be built in the SIPCOT Industrial Park in Sivaganga district, is expected to create 1,000 jobs, the government said.

At a Secretariat event, K M Mammen, Arun Mammen of MRF Ltd signed documents with Darez Ahmed in the presence of Chief Minister M K Stalin, Chief Secretary N Muruganandham, and Industries Minister TRB Rajaa, an official statement said.

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Meanwhile, in a separate BSE filing, the Chennai-headquartered MRF Ltd said, "The company today entered into a non-binding Memorandum of Understanding with the Government of Tamil Nadu, through its nodal agency 'Guidance' to facilitate the setting up of a Greenfield manufacturing facility for automotive tyres and allied products at SIPCOT Industrial Park, Sivaganga district."

The company said the project plans to invest around Rs 5,300 crore over 12 years and is expected to create about 1000 direct jobs.

"The MoU is non-binding in nature and is subject to sanction of a customised incentive package, infrastructure support including land and statutory approvals under applicable laws by the Government of Tamil Nadu," the company said.

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MRF Ltd currently runs around 10 factories across India, making tyres for passenger cars, trucks and buses, off-road vehicles, and two-wheelers.

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