Mumbai: Tyremaker MRF Ltd said on 2 May it signed an agreement with the southern Tamil Nadu state government to set up a radial tyre facility in Perambulur and for expansion of its existing two plants in the state.
The company said it planned to invest Rs9 billion to set up the new facility and is acquiring nearly 290 acres of land for the plant.
The Perambulur facility is expected to have a total capacity of 7,00,000 radial tyre units.
MRF has two other factories in Tamil Nadu at Tiruvattiyur and Arakonam.
MRF shares were up more than 2% at 4,650.00 in a firm Mumbai market.