MRF will Invest Rs.1000 Cr

Thebullishtrends: MRF share price closed on Friday at Rs.6946. As per reports India's leading Tyre manufacturer MRF Ltd expects to get possession of 500 acre land at Tiruchirapalli, Tamil Nadu by Jan'08,where it plans to invest Rs 1,000 crore to set up a new facility.

MRF will be investing Rs 500 crores initially in the facility which will then be scaled upto Rs 1,000 crores later. MRF's Tiruchirapalli factory would be the company's seventh facility in the country.

MRF'sTiruvottiyur factory would hit the profits as the plant was contributing to majority of the company's exports.