MRF Ltd Signs MoU With Tamil Nadu Government For ₹53 Billion Sivaganga Plant

MRF Ltd has entered into a non-binding Memorandum of Understanding with the Tamil Nadu Government to establish a new greenfield manufacturing facility, the company informed stock exchanges . The proposed unit will be located at the SIPCOT Industrial Park in the Sivaganga district.

The project targets the production of automotive tyres and allied products. The state government's nodal agency, "Guidance", will facilitate the initiative. As per the regulatory filing, the project envisages an estimated investment of approximately ₹53 billion. This capital expenditure is planned over a period of 12 years. When fully implemented, the facility is expected to generate direct employment for approximately 1,000 persons.

MRF Ltd stated that the MoU is non-binding in nature. The progression of the project is subject to the sanction of a customised incentive package from the Government of Tamil Nadu. The company specified that infrastructure support, including land, and statutory approvals under applicable laws are prerequisites.