Proposes to invest Rs 4500 cr over a 10 year period
MRF announced that the Company has on 11 January 2017 signed a Memorandum of Understanding [MOU] with the Government of Gujarat expressing its in-principle intention to set up a new manufacturing facility in Gujarat for manufacture of automotive tyres, tubes, flaps and related products. The Company proposes to invest a sum of about Rs. 4500 crore over a ten year period in a phased manner. The new plant is planned to be set up in Gujarat with the intention of broad basing the Company's manufacturing facilities across India. The project will be funded by internal accruals and / or debt.Powered by Capital Market - Live News