ITC has planned investments of Rs 15,000 crore across all businesses of the company within a time-frame of next five years. A large chunk of this, around Rs 5,000 crore, will go into ITC choupal-sagars (rural malls), and another Rs 700 crore towards building up the foods business in a big way. A foods unit in Bengal, in an area of 25 acres.
The proposed investments are part of a five-year rolling plan adopted by the company, and wherever necessary, can even be scaled up. The plan was to invest heavily in new hotels, paper and paperboard and packaging businesses, ITC choupal-sagars and foods.
The company has planned three new hotels in Bangalore (which will include a budget hotel), one in Chennai and one in Hyderabad. The super deluxe ITC Sonar Bangla hotel in city is also being expanded by adding a few 100 rooms, at an investment of around Rs 400 crore-500 crore.
In paper, large investments are planned on creation of new capacities for both coated and uncoated paper, expected to absorb upwards of Rs 1,000 crore. On the proposed Rs 2,500-crore Greenfield project in pulp and paper. The talks were still on with three State Governments and no final decision has been taken yet.
On plans for West Bengal, for which ITC has already announced an investment of Rs 1,000 crore, some Rs 350 crore would be spent on completing the Kidderpore cigarette factory (with all facilities including that for in-house cut tobacco), by utilising the land adjacent to the factory.
Besides this, improved production facilities at the newly acquired Wimco factory in Bengal and at the specialty papers unit at Tribeni would be taken up. ITC also plans to create a value chain for the horticulture sector, including cash and carry outlets, cold chain for fruits and vegetables and a national logistics hub in Bengal.
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| Posted : 7/22/2006 |
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