Indage Group to invest Rs 25 crore in HP R
Lucknow, June 5 (UNI) The Rs 500 crore Indage Group will invest Rs 25 crore to set up an integrated manufacturing-cum-R&D facility with state-of-art technology in Himachal Pradesh.
The French conglomerate has major interests in verticals such as wines and champagnes, hotels, fruit juices and confectionaries.
''The company already has an R&D unit in Goa on a smaller scale.
However, to cater to our expanding business operations, we decided to set-up the new facility,'', Seabuckthorn Indage Ltd (SIL).
President M S Dhanota said addressing mediapersons here today.
Champagne Indage Ltd (CIL), which is the wines and champagnes division of the Group, boasts of popular brands such as Chantilli, Riviera, Ivy and Marquee De-Pompadour.
''CIL has 76 per cent Indian wine market share. We also export to 68 countries, including Europe and America,'' Mr Dhanota informed.
He claimed the wine sector was posting an impressive growth of 75 per cent in the country.
''There is a lot of potential in the wine industry to be explored, especially by local players,'' Mr Dhanota emphasised.
He was in town to announce the launch of SIL's range of fresh fruit juices and nectars in Uttar Pradesh.
Under the umbrella brand-name 'Leh Berry', the SIL products are available in eight variants including seabuckthorn, pineapple apple, apple peach, mixed fruit, orange, black currant, mango and guava.
''Except for mango, the pulp of other fruits for our products are imported from Germany and conform to our stringent quality control parameters,'' the SIL official underlines.
He said the Indian market of nectar/fruit juices was estimated at Rs 800 crore and growing at a rate of 55 per cent.
''SIL is already at number three position since its launch three months back.'' The company also plans to launch health biscuits, honey and energy drinks in the near future.
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