MRF Ltd, the Chennai-based tyre manufacturer, on Wednesday entered into a non-binding Memorandum of Understanding (MoU) with the Tamil Nadu government, through its Nodal Agency ‘Guidance’, to facilitate the setting up of a greenfield manufacturing facility for Automotive Tyres and Allied Products at SIPCOT Industrial Park in Sivaganga district of Tamil Nadu.
The proposed project, when implemented, envisages an estimated investment of about ₹5,300 crore over a period of 12 years, and is expected to generate direct employment for approximately 1,000 persons, the company said in an announcement to the stock exchanges.
“The MoU is non-binding in nature and is subject to sanction of a customised incentive package, infrastructure support, including land and statutory approvals by the Tamil Nadu government,” the company said.
At the time of filing this report, the company’s share price on the NSE was at ₹1,34,945, down by ₹3,880 (-2.79 per cent).
Published on March 4, 2026