India-based public conglomerate ITC is set to foray into dairy business with the launch of a range of dairy products over the next 14 months.
The move is part of an integrated animal husbandry program, the firm's corporate social responsibility initiative.
ITC plans to launch shelf-stable dairy products such as milk powder, long-life packaged milk and fortified milk.
The FMCG major had already begun construction of a milk processing plant in Munger district of Bihar state in late December 2012 with an investment of INR1.5bn ($27.38m).
It will have a capacity to process 200,000l per day and can produce up to 20 tons of milk powder, 20 tons of milk in pouches and 10 tons of ghee.
ITC foods division divisional CEO Chitranjar Dar was quoted by Business Standard as saying that the company is also open to third party alternatives.
"We realised it is just not good enough to only manufacture. We have to find a profitable outlet for it and that is how we planned to get into dairy," Dar added.
"So, from a strategic point of view, we will enter some parts of dairy in the next 14 months."
ITC also plans to set up cold chains and cool chains simultaneously to have a presence in the entire value chain.
