ITC to invest Rs.3 billion in food processing unit

April 15th, 2008 - 8:54 pm ICT by admin  

Kolkata, April 15 (IANS) India’s leading tobacco company, ITC Ltd, will invest Rs.3 billion ($75 million) to set up an integrated food processing unit in West Bengal, a company spokesperson said here Tuesday. “The company has asked for around 40 acres of land from the West Bengal government to build the unit here,” vice-president of corporate communisation Nazeeb Arif told reporters on the sidelines of a seminar organised by the Confederation of Indian Industry (CII).

He said the upcoming food-processing unit would help to strengthen ITC’s snack foods business in eastern India.

“We are in advance stages of negotiation with the state government. We hope to get the land very soon,” he said, adding demand for snack food in India was growing fast.

ITC, one of India’s foremost private sector multi-business conglomerates, manufactures snack food under the brand name Bingo.

The company is talking to the West Bengal Industrial Infrastructure Development Corporation (WBIIDC) to get the land somewhere near Kolkata’s twin district Howrah.

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