ITC to invest Rs 4,000 cr to set up new paper plant

ITC to invest Rs 4,000-5,000 crore in setting up a new paper plant and is in the look out for 1,500-2,000 acres of land for the purpose.

Besides, the it is planning to invest to the tune of Rs 8,000 crore in 11 hotels. It has already invested around Rs 3,000 crore in three of its properties in Kolkata, Chennai and Bangalore.

The company is also looking for opportunities to jointly manage hotel properties where the ownership lies with some other hotel company. It would look after the marketing and management of the hotel.