Engineering | February 2014
MRF to invest Rs 900 crore in new facility
Leading tyre manufacturer MRF is all set to invest about Rs 900 crore in a new manufacturing plant adjacent to its existing facility in Medak district of Andhra Pradesh. This will enable the company, which has secured approval from the Andhra Pradesh Industries Department and the State Investment Promotion Board, to increase its manufacturing capability.
The tyre manufacturer, which has a market share of over 30 per cent, has two manufacturing units in Andhra Pradesh, one at Sadasivpet established in the 1990s and the other at Ankapally in 2011. The proposed brownfield plant will come up close to its existing unit in Sadasivpet where it manufactures tyres for automotive and aviation sectors.