Tata Coffee to set up facility in Vietnam
The Dollar Business Bureau
Tata Coffee on Monday announced it would establish a $50 million (about Rs.350 crore) greenfield instant coffee facility in Vietnam.
“The board approved the setting up of a state-of-the-art greenfield freeze dried instant coffee facility in Vietnam of 5,000 tonnes per annum,” Tata Coffee said in a statement.
“Estimated project cost is $50 million (about Rs.350 crore),” the company said.
In a seperate announcement, Tata Coffee said the coffee board has appointed Anantha Murthy N as the company’s Secretary and Compliance Officer with effect from December 20, 2016.
The earlier position for company secretary and compliance officer was held by Suryanarayanan NS.
Tata Coffee is a subsidiary of Tata Global Beverages Ltd. The company is Asia’s largest integrated coffee company and the second largest exporter of instant coffee in India.
Tata Coffee's Managing Director Sanjiv Sarin said Vietnam offered an attractive business environment for his coffee business, besides accounting as the largest Robusta Coffee growing region.
“The plant will help the company to further expand its global footprint."Tata Coffee has made steady progress in growing its freeze dried instant coffee business, which is now about 20% of our overall instant coffee portfolio,” Sarin said.