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Tata Global Beverages plans to set up Rs 1 bn tea packaging unit in Odisha

The estimated scalable capacity of the new unit is expected to be 36 million kgs per annum and it would be operational by 2020, post all statutory and regulatory clearance

Press Trust of India  |  New Delhi 

Tata Global Beverages

Wednesday said it plans to set a new with an investment of Rs 1 bn at in

"The company has entered into a (LOI) with Ltd, a wholly-owned subsidiary of Tata Steel Ltd, for setting up a in Gopalpur Industrial Park, Odisha," Ltd (TGBL) said in a regulatory filing.

The aggregate investments by both the for setting up this new unit are expected to be around Rs 1 bn over a period of time, it added.
 

Ltd said the estimated scalable capacity of the new unit is expected to be 36 million kgs per annum and it would be operational by 2020, post all statutory and regulatory clearances.

The company said the planned unit will be used for the operation of manufacturing and storage of tea and will also be used as warehouse of all products of the company, including its subsidiaries, associates and joint-venture
 

The above LOI was exchanged on November 12, 2018, during the "Make in Odisha" conclave in Bhubaneshwar,

Shares of Tata Global Beverages were trading 0.86 per cent lower at Rs 218 apiece on BSE.

First Published: Wed, November 14 2018. 13:50 IST
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