MRF will ink a Memorandum of Understanding (MoU) shortly with Government of Tamil Nadu for ‘Ultra Mega Project Status’. The company as part of its expansion plan had proposed to invest Rs 4,500 crore in its plants at Perambalur and Arakonam in Tamil Nadu over a period of 7 years. The Tamil Nadu government considered the above proposal and has decided to accord ‘Ultra Mega Project Status’ under the Tamil Nadu Industrial Policy, 2014.
MRF is India’s No.1 tyre manufacturing company with a turnover of Rs 14,000 crore. Currently, the company exports tyres to over 80 countries including America, Europe, Middle East, Japan, and the Pacific region. The overseas market contributes to 10-12% of the company's turnover at present.
