Tyre giant MRF is soon going to open its new radial tyre factory in Perambalur district of Tamil Nadu. It will also expand the capacity of its Chennai and Arakonam units. An official press release said today that a Memorandum of Understanding (MOU) has been signed between MRF and the Tamil Nadu government.

 

The company aims to manufacture 3.50 lakh tyres at the Perambalur unit in the first phase of the project and seven lakh tyres in the second phase of the project. The cost of setting up the plant is expected to be around Rs 900 crore and in the first stage it would provide employment to 2500 people. 5000 people will get employment in the second stage.

Chairman of MRF KM Memon and State Industries Secretary M O H Farooki signed the MOU. State CM M Karunanidhi was also present at the time of signing the MOU. MRF is one of the leading manufacturers of tyres in the world which make radial tyres for vehicles ranging from cars, two-wheelers and racing cars.