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ITC plans Rs 1,000-cr investment in Bengal
 
ITC plans Rs 1,000-cr investment in Bengal
ITC has proposed to invest Rs 1,000 crore on a number of projects in West Bengal. The proposed investments would be made in areas such as agri-business, hotels, cigarettes, logistics and IT.

Plans for the agri-business sector would veer round farmers, fruits and vegetables. Cold chains would be set up even as the business model would encompass wholesale and cash-and-carry facilities. The company would enter into buyback arrangements with farmers as well.

An investment of Rs 350 crore would be made on expansion of ITC Shonar Bangla, the groups existing five-star hotel here. The setting up of a new hotel has also been proposed. An additional 10 acres of land would be required for this purpose.

The Rs 300 crore would be invested in the expansion of ITCs cigarette factory at Khidderpore in Kolkata. The company has also proposed the setting up of a biscuit factory and a logistics hub. The implementation of both these projects would require 20 acres of land each. The biscuit factory would be located preferably around Kolkata while the logistics hub would be located either on the national highway that links the State to Mumbai or the one that links it to Delhi.

ITC has also asked for 50 acres of land for rolling out its IT project here. Over time, the IT facility would engage "up to 1,000" professionals.
Posted On : 6/27/2006 6:39:51 PM

 
 
 
ITC plans Rs 1,000-cr investment in Bengal