MRF Mulls Two Greenfield Facilities

Chennai: MRF Ltd, which in December declared that it will infuse between Rs 500 crore and Rs 600 crore over the next two years in expanding the capacities at the existing out put facilities and is looking at two greenfield projects as well. One of them will be in Tamil Nadu and the other possibly in the North. It was not able to give the estimated investments in the greenfield facilities because that would depend upon the location, incentive package and the type of tyres that would be produced there. MRF had then said that it will triple its radial tyres capacity at Puducherry to 3 lakh a year, increase 2-wheeler tyres capacity at the Arakonam plant from 5 lakh to 6 lakh and add 20,000 units to the Medak plant, which can produce 80,000 commercial vehicle tyres a year now. MRF is looking at takeover opportunities all over the world. In the recent past, the company had analyzed opportunities in Belarus, Germany, former Yugoslavia and China, but had not found any of them suitable. MRF will first like to put its money in the country.