Chennai, May 2 (UNI) Tyre major MRF will set up a new radial tyre manufacturing unit in the backward Perambalur district and expand its existing plant in Arakkonam with a total investment of Rs 900 crore.
A Memorandum of Understanding (MoU) in this regard was today signed between the MRF management and the Tamil Nadu Government in the presence of Chief Minister M Karunanidhi at the State Secretariat.
An official release here said the projects envisaged production of 3.5 lakh tonnes of radial tyres per month for cars and trucks in the first phase. In the second phase, the production would be doubled to seven lakh tonnes.
The new facility would offer jobs directly to 2,500 people and indirectly to 5,000 people in the first phase.
''This greenfield project will substantially help in the socio-economic development of the region. This new radial tyre plant and the proposed SEZ to come up at Perambalur will create history in the industrial development of the district,'' it added.
The MoU was signed by MRF Managing Director K M Mammen and Tamil Nadu Industries Secretary M F Farooqui in the presence of Mr Karunanidhi, Union IT and Communications Minister A Raja and Chief Secretary L K Tripathy.
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