ITC lines up Rs 10,000-cr investment to boost food processing business

Source: Business Standard, Nov 28, 2017

Kolkata: Cigarettes to fast-moving consumer goods (FMCG) firm ITC on Monday said it would invest around Rs 10,000 crore in the coming years to strengthen its business in the food processing sector.

 Sanjiv Puri, chief executive officer (CEO) of the company, said of the allotted investment, much of it would be in West Bengal. This is a part of the company’s Rs 25,000-crore-investment package that it has planned to invest on 65 projects, including 20 integrated factories for consumer goods across the country.

 “The biggest headroom to grow is in the FMCG space; that’s where the opportunity is the highest and that’s where our internal capabilities can be leveraged. We will look at newer areas as we go along,” he said on the sidelines of Horasis Asia 2017 meeting, here.

However, Puri did not mention the categories under FMCG space his company would expand into.

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