Tyre major MRF is investing ₹1,000 crore on expansion of its manufacturing facility near Hyderabad.
“Met with Sri Arun Mammen, VC & MD of MRF India, who has shared with me that they’ve decided to invest ₹ 1,000 cr into expanding their facility & creating a new specialty assembly line at Sangareddy district,” Industries and IT Minister K.T. Rama Rao said in a tweet.
Work on the expansion project at MRF’s facility in Sadashivpet recently got underway and is expected to be completed in the second half of this year. Under the programme, to set up additional lines at the facility, the company plans to manufacture tyres for defence aircraft. Most of the new production is expected to be for defence industry, a senior official said.
The Minister in his tweet said Mr. Mammen has also offered ₹4 crore under corporate social responsibility (CSR) activities to the “Mana Ooru - Mana Badi” programme of the State government. Later, speaking after laying foundation of an IT Park in Kandlakoya, outskirts of Hyderabad, Mr. Rao mentioned MRF’s decision to invest ₹1,000 crore while pointing to how the progressive policies of the State government was attracting investments.
