Demonetisation not to impact new Assam plant: ITC

Demonetisation is not going to impact ITC's Rs 200 crore under-construction food processing plant in Assam, a company official said here today.
"Demonetisation is not going to impact in the long term, so it is not going to impact the new Rs 200 crore Assam plant," ITC group head central projects, R&D, Chitranjan Dar told PTI.
This will be the biggest investment by ITC in a single plant in the north east. The unit will primarily focus on food processing - mainly biscuits and snacks with provision to produce personal care items like soaps.
The under-construction plant will be operationalised by March-April 2017, he said.

This will be the fourth plant of ITC in the north east which is fully owned by it, while the rest three are either in joint venture or in exclusive outsourcing tie ups, he said.
According to reports, FMCG companies are facing severe decline in sales soon after demonetisation.