MRF Tyre To Invest Rs 4,500 Crore For Its New Project In Gujarat
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MRF To Invest Rs 4,500 Crore For Its New Project In Gujarat

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India’s largest tyre maker, MRF has decided to invest Rs 4,500 crore (in a phased manner) to build its new facility in the India’s western state of Gujarat. In this regard, the company has signed a memorandum of understanding (MOU) with the Government of Gujarat on 11th January, 2017.

As per the company’s regulatory filings, it is been learnt that the new facility would be used for the manufacturing of automotive tyres, tubes, flaps and related products. The company is going to fund the project through internal accruals and/or debt. The planned investment will be over a period of 10 years.

The motive behind setting up this facility in Gujarat is the expansion of MRF’s pan-India manufacturing capacity of tyres and related products.

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Ankit verma

Author: Ankit verma

1 thought on “MRF To Invest Rs 4,500 Crore For Its New Project In Gujarat”

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