Jan 11, 2017, 04.18 PM | Source: Moneycontrol.com
Chennai-based MRF, the country’s largest tyre maker by capacity, will invest Rs 4,500 crore in a green field manufacturing plant based in Gujarat.
The plant, which will involve investments spread over a period of ten years, will make automotive tyres, tubes, flaps and related products.
The new plant is to be set up in Gujarat with the intention of broad-basing the company’s manufacturing facilities across India, said a release by the company.
The project will be funded by internal accruals or debt or a mix of both.
Currently, the company has five tyre making facilities and two factories where it makes paints and coats in India.