The Murugappa Group has announced fresh investments of ₹200 crore in Kerala, which includes funds for expansion of its existing facilities in the State. Details would be worked out soon, according to MM Murugappan of the Chennai-based industrial group.
Earlier on Tuesday, he met with P Rajeeve, Kerala Minister for Industries, and conveyed the proposal for fresh investments. Murugappan complimented prevailing industrial climate in the State and said that he has not till date faced any major issue while running his interests here.
On his part, the Kerala minister promised all cooperation to a group which has made its mark as reputed industrial conglomerate in South India. Murugappan was accompanied by N Ananthaseshan, Managing Director, Carborundum Universal, a group company. K Elangovan, Principal Secretary, Industries, Government of Kerala, too was present during the discussions.
Carborundum Universal has four manufacturing units in Kerala at Edappally and Kakanad (Ernakulam district); Koratty (Thrissur district); and Maniyar (Pathanamthitta district). The group also owns Ambadi Enterprises, manufacturers of home furnishing products, based in Kannur.