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ITC aims for 8 new food plants, to invest Rs 4,000 cr

Noodle biz grew by 30% & gained 29% market share in past year, juices hold 7% share

Arnab Dutta  |  New Delhi 

Consumer goods conglomerate ITC will be setting up eight new integrated food processing units by 2019, with investments in excess of Rs 4,000 crore. The planned investments are a part of its long-term plan to invest Rs 25,000 crore, a majority of which will be allocated towards its food business, V L Rajesh, divisional chief executive, ITC Ltd said. The company which sells cigarettes and owns luxury hotels, besides doing business in a number of other sectors, has already acquired land for the proposed plants in West Bengal, Assam, Karnataka, Tamil Nadu and Maharashtra. An ...

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