Michelin group president Prashant Prabhu (left) exchanging documents with Principal Secretary M.F. Farooqui, in the presence of Chief Minister M. Karunanidhi and Deputy Chief Minister M.K. Stalin.

Renowed French tyre maker Michelin has signed a MoU to invest Rs4000 crore ($866million) in Tamilnadu to setup a state of the art tyre manufacturing unit here. It will come up at a SEZ in  Gummidipoondi taluk of Tiruvallur district.

» Read more: Michelin to setup Rs4000 crore ($866million) facility near Chennai