Leading Indian tire manufacturer, MRF Ltd has revealed plans to build a new manufacturing base in the western Indian state of Gujarat. According to a report in the newspaper, Times of India, the company reportedly proposes to build a greenfield facility costing about GBP 398.6 million in Bharuch.
The facility will have an initial monthly production capacity of one million tires. MRF did not disclose any details of what kind of tires would be made at the plant.
MRF is investing heaving in expansion and upgrading its current manufacturing facilities and setting up new plants. Earlier in the year, the company had disclosed that it would be investing GBP 448.5 million on modernizing and expanding its factories in Perambalur and Arakonam plants over the next seven years. Another plant in Sadasivpet in Telangana is slated for an expansion project requiring an investment of GBP 89.5 million.
Gujarat, the home state of current Indian Prime Minister, Narendra Modi appears to be a popular for Indian tire manufacturers. BKT, ATG, Apollo Tyres and Ceat Ltd all have production facilities within the state. Maxxis, too has announced that it intends to set a factory in Gujarat.
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