India's leading FMCG Britannia Industries would set up its largest plant in Maharashtra in a food park at Ranjangaon. "We are planning to set up our largest plant at the Ranjangaon food park in Maharashtra", chairman of Britannia Industries Nusli Wadia told shareholders at the company's AGM here today. Wadia said the park would have the largest biscuits manufacturing plant with six lines, along with cake and rusk (rpt) rusk. He said that the proposed JV plant with Greek company Chipita would be also be located there, adding that it would on stream from June 2018. Wadia said that the company was also planning to set up a diary project at the food park with a capacity of seven lakh litres per day. Relating to the Chipita JV, Wadia said Indian consumers would be introduced to a new variety of croissants. Wadia said that the focus of the company would be investments on new products and cost reduction. He said over the last three years, the company had been able to increase market share y-o-y. Commenting on the first quarter results, he said that net profit had fallen marginally due to a tough year following demonetisation. Wadia said rural growth had been in double digits.
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