India: ITC to build factory in Odisha
ITC, the Indian consumer goods giant, is set to expand its manufacturing operations with the opening of a consumer goods facility in Odisha (Orissa), according to a report in the Economic Times.
The 700,000 sq ft plant, located in the Khordha district, will produce goods under brands such as Aashirvad (spices, dried ready meals and baking aids), Bingo! (savoury snacks), Sunfeast (biscuits) and YiPPee! (noodles and pasta). The facility is part of a 800 crore INR ($118 million) investment that also includes a luxury hotel.
In a statement, the firm said: "ITC's investment in the processed foods sector in Odisha will add significant value to the state's agricultural potential. ITC believes that food processing sector can make a multi-dimensional contribution to the state by enhancing competitiveness of food value chain, encouraging sustainable agriculture, reducing agri-wastages and helping create livelihoods along the entire value chain".
The new plant is due to be complete in 30 months.
Source: Economic Times