Godrej Agrovet today said its subsidiary firm Creamline Dairy Products Ltd (CDPL) plans to invest Rs 400 crore in three greenfield milk processing plants in Tamil Nadu, Karnataka and Maharasthra over the next three years.
"...CDPL may plan to raise funds through debt or by way of public issue, if required, subject to necessary approvals," the company said in a regulatory filing.
The proposed expansion will increase the milk processing capacity of the CDPL from 12 lakh litres per day to 15 lakh litres per day and help grow the share of value-added milk products.
CDPL had recently acquired a processing plant in Tiruenelveli, Tamil Nadu, and is in the processs of setting up another plant in Vishakhapatnam, it added.
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