MRF to invest around Rs. 4,000 crore in next 3 yrs.

Tyre manufacturer MRF Ltd. has said that over the next three years it would invest around Rs. 4,000 crore, to build up additional capacity and to introduce new products. The company also entered into tie up with the International Cricket Council (ICC), to be the global partner of the upcoming ICC Cricket World Cup, as a lead sponsor of the event.

The company would leverage the partnership to promote MRF as a global brand, increasing brand awareness in its key overseas markets, said the company senior official.

MRF is planning to expand its capacity, in facilities including Hyderabad, Trichy and Goa, with an investment of Rs. 4000 crore in next three years. It currently has a capacity of 1.2 lakh tyres a day, said Koshy Varghese, executive vice president, marketing at MRF.

While he refused to share on what the capacity would be with the expansion, which has already started, he said that the expansion would bring in 1.1 times the investment as turnover.

BS