MRF plans to invest about Rs 45 billion to expand the production capacity at its two factories in Tamil Nadu. A Memorandum of Understanding has been signed between MRF and the Tamil Nadu Government for the same.
The proposed investments will be allocated to Arakonam and Permbalur units and will be spread over seven years. The new investment is expected to create job opportunities for 3,000 to 3,500 people. The proposal has been given the “Ultra Mega Project Status'(UMPS)” by the Tamil Nadu Government under which MRF will receive a host of benefits like soft loan for 16 years, VAT related incentives, uninterrupted power supply etc. – Rubberasia.com