CHENNAI: MRF Limited on Wednesday signed a non-binding Memorandum of Understanding (MoU) with the Government of Tamil Nadu to set up a greenfield manufacturing facility for automotive tyres and allied products at the SIPCOT Industrial Park in Sivaganga district.
The proposed project entails an estimated investment of Rs 5,300 crore over a period of 12 years and is expected to generate direct employment for around 1,000 persons upon implementation.
The MoU was executed through the State’s nodal agency, Guidance Tamil Nadu, to facilitate the establishment of the facility spread across about 340 acres within the industrial park.
According to the MRF, the MoU is non-binding in nature and subject to the sanction of a customised incentive package by the State government. The project will also require infrastructure support, including land allocation, and statutory approvals under applicable laws.
Sivaganga MP Karti Chidambaram has welcomed the proposed Rs 5,300-crore investment by MRF Limited to set up a greenfield manufacturing facility in the district.
Tagging the Chief Minister’s Office and MRF in a social media post, he thanked them, stating, “Welcome to Sivaganga.”
Once operational, the plant will manufacture automotive tyres and allied products, further strengthening Tamil Nadu’s position as a key hub for the automobile and auto component sectors.