ITC to set up five food production facilities in India

Published: 2012-05-17 Origin: FBR

Core Tip: Indian public conglomerate company ITC is planning set up five food production facilities at Kolkata, in the Indian state of West Bengal. The combined investment for the units is expected to be nearly INR10bn ($183.90m).

The company has already initiated the process of setting up two units, which will be owned by ITC. The other three will be contract manufacturing facilities and the company is seeking partners to set them up. Most of the units will be within 50 to 60km², reported the Times of India.

ITC executive director Kurush Grant said West Bengal is the ideal place for investment in the foods business, as it has most of the raw materials as well as goods market, and is the entry point to the northeast.

Currently, ITC has two contract manufacturing facilities in West Bengal.

keywords: conglomerate ITC manufacturing facilities

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