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| KKN Group to invest Rs 100 crore for real estate foray, new launches |
| BS Reporter / Kolkata Jul 23, 2009, 01:18 IST |
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The Rs 150 crore KKN Group, which sells tea under the ‘Tripti’ brand in eastern India, plans to invest close to Rs 100 crore over the next one year to diversify into real estate and launch new food products.
The company is also in final stages of acquiring two Kolkata-based foods brands, for close to Rs 11 crore.
At a press conference in Kolkata, Kausshik Kumar Nath, director of KKN Group, said, “We are diversifying into residential real estate. We will start construction of residences over 40,000 sq ft on the Eastern Metropolitan Bypass. We are investing close to Rs 10 crore into real estate projects. We have also acquired 200 cottah in Sonarpur, West Bengal for a residential-cum-shopping mall. These should be completed over the next two years.”
“We are also investing close to Rs 50 crore to launch rice, wheat and masala brands over the next nine months. We are also in final talks with two companies in Kolkata for acquiring their brands. This would cost us close to Rs 11 crore,” added Nath.
The KKN Group also plans to introduce teabags by September this year and start exporting tea to Russia and Middle East. “We have acquired land in Bhadrak, Orissa for Rs 40 crore, which will manufacture 70,000 metric tonnes of railway brakes per annum. Work would start from September this year,” Nath added. The company has launched ‘Tripti Soya Chunks’, a preparation made from soyabean flour and from a 100 per cent pure non-GMO soyabeans.
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