ITC, the Indian consumer goods giant, has announced plans to invest 1,500 crore INR ($181 million) to set up an integrated food manufacturing and logistics facility and a sustainable packaging manufacturing plant at Sehore in Madhya Pradesh.
According to sources, the two projects will span an area of approximately 57 acres.
Commenting on the new investment, ITC chairman Sanjiv Puri said: “In line with our commitment to contribute to the socio-economic development of the state, we are now investing in two world-class facilities including the Integrated Food Manufacturing and Logistics Facility and the Sustainable Packaging Products Manufacturing Facility at Sehore”.
“This state-of-art facility will also be a landmark in sustainability with the unit being designed to IGBC green building Platinum standards”, he added.
The food plant will produce products such as Aashirvaad atta (wheat), Sunfeast biscuits, and YiPPee! Noodles. Meanwhile the moulded fibre plant is aiming to be a pioneer in sustainable packaging, helping curb plastic use in the electronics and FMCG industries.
Source: Economic Times