Swaraj Baggonkar MoneycontrolChennai-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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
