ITC to invest Rs 1700 crore in West Bengal

ITC Ltd intends to make a fresh investment of Rs 1700 crore in West Bengal which would include a personal care products manufacturing line and investments in decor paper manufacturing capacity in Tribeni to substitute imports, managing director Sanjiv Puri said.

The company will also expand its Dhulagarh facility and milk productivity improvement and procurement programme across 300 villages in the state, said Puri.

The conglomerate has already undertaken its proposed Rs 4,000 crore investment in the state announced earlier across agriculture, manufacturing, and services. Puri said this includes two new food processing facilities at Uluberia and Panchla which are fully operational and running at high capacity within a short span of time. ITC will support this with investment in creating a sustainable and competitive agri-value chain.

The up-coming super premium luxury hotel, ITC Royal Bengal, is also nearing completion and will be operational in the next few months. The ITC Green Centre and infotech park is also in advanced stage of construction.

“We now propose to make new investment of Rs 1700 crore in the near future, taking our recent total investments to Rs 5700 crore,” said Puri. ITC, headquartered out of Kolkata, is one of the largest private investor in the state.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/personal-care-pet-supplies-liquor/itc-to-invest-rs-1700-crore-in-west-bengal/67884947