MARS Group aiming to produce 5 mn kg of tea in 2013
December 21st, 2011 - 9:36 pm ICT by IANSKolkata, Dec 21 (IANS) The MARS Group of Companies, which acquired five tea gardens in the Dooars in 2010, Wednesday said it was aiming at a total production of 5 million kg of tea next fiscal from these gardens and also planning to invest Rs.1 billion for acquiring more tea gardens in the Himalayan foothills in the fiscal year 2012-2013.
“Till now, the total production of tea from the five gardens has been 1.5 million kg. We are aiming to produce 5 million kg of tea at the end of the next fiscal,” MARS Group of Companies chairman and managing director Roshan Lal Agarwal told reporters here.
The Rs.2.5 billion group, one of the leading producers of plywood, entered into the wholesale tea business recently after investing Rs.0.5 billion to acquire the five closed tea gardens, comprising a total of 3300 hectares. The gardens in the northern part of West Bengal had remained closed since 2003.
Agarwal said the group was eyeing to produce a total of 10 million kg of tea at the end of fiscal year 2014 from these gardens.
He also informed that they were planning to invest Rs.1 billion for acquiring more tea gardens in the Dooars region.
The company, which is selling CTC tea through auctions, will foray into retail green and herbal tea sales very soon.
“Currently, the markets for green and herbal tea are growing in India. And we will soon start selling those teas,” Agarwal said.
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Tags: 1 billion, 10 million, 5 million, dooars, fiscal year, foray, herbal tea, himalayan foothills, lal, managing director, mars group, plywood, rs 2, tea business, tea gardens, tea sales, teas, west bengal, wholesale tea, year 2012