Business Standard

South Korea's Lotte to invest Rs 450 cr in Indian unit Havmor Ice Cream

Money will be used for new production facility in Maharashtra

Premium

Pratigya Yadav New Delhi
Seoul-headquartered Lotte Confectionery will invest Rs 450 crore in its Indian subsidiary Havmor Ice Cream in the next five years, marking its first big investment in the company after acquiring it in December 2017 for Rs 1,000 crore.

The investment will set up a new production facility at Talegaon township of Maharashtra Industrial Development Corporation (MIDC). Havmor’s new facility will be functional in 2024 and it will generate employment for 1,000 people, said the company in a statement.

“The facility will be the brand’s first ever Korean technology-based facility in India. It will be made on a total

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 18 2023 | 12:52 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com