MRF Ltd. has commenced work on its new plant on a 300-acre site in Tiruchi about a month ago, according to Koshy K. Varghese, Executive Vice-President, Marketing, MRF.
Talking to newspersons here on Thursday on the occasion of his visit to Vellore to inaugurate the new premises of Gem Wheels, the MRF Tyres and Service Franchise, Mr. Varghese said the company proposed to invest about Rs. 700-800 crore on its expansion programmes.
The establishment of its new plant in Tiruchi, the seventh factory of the company, is part of its expansion plans. The Tiruchi plant, which would make truck tyres and radial tyres, is expected to be ready for commissioning in another two years. The company is expanding its capacity for car tyres, truck tyres and two-wheeler tyres in all its existing plants, he said.
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Mr. Varghese said the company recorded a sales turnover of Rs. 6,200 crore in 2008-09 (October 2008-September 2009). “Everything depends on the performance of the automobile industry”, he said, when asked about the sales projections for 2009-10. With Tata out to go in for manufacture of the Nano cars in a big way this year, MRF hoped to cash in on this development since MRF tyres were the only one approved for the Nano cars, he said.
Earlier, inaugurating the new premises of Gem Wheels, Mr. Varghese said that it would be the latest facility in tyre care globally. The MRF Tyres & Service Centre would offer full-fledged tyre services.