ITC plans 6-8 massive integrated plants

ITC aims to set up 6-8 massive integrated plants for its own food division

The Dollar Business Bureau

ITC, one of the leading FMCG companies, said that it will expand its range in the food segment with the launch of the new region-specific products.

Besides the addition of 20 new products to the existing categories, ITC is expected to launch dairy whitener in June.

In the next three years, ITC aims to set up 6-8 massive integrated plants for its own food division in Assam, West Bengal, Karnataka, Punjab, Maharashtra and Tamil Nadu. The plants will manufacture juices, biscuits and other products, said V L Rajesh, Divisional Chief Executive-ITC Food Division.

Although he did not reveal the exact figures of the investments to be made, Rajesh revealed that the new plants are quite expensive and thousands of crores will be required for the set-up.

The company has already procured land for an integrated plant at Kapoorthala, Punjab. Around 1,400 crore will be invested in the Kapoorthala plant, which is expected to be ready by the end of 2017.

The company is also planning to extend its Ghee brand and spices to the North and West.

With an aim to strengthening the regional portfolio, ITC launched the first regional variant ‘BNatural Punjab da Kinnow.’

Currently having 7% market share in the segment of juices, ITC aims to increase it to 11-12%.

 

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The Dollar Business Bureau - May 20, 2016 12:00 IST
 
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