McLeod to invest Rs 400 crore

Kolkata, Jan 4: The Brij Mohan Khaitan group run McLeod Russel (India) has planned to invest Rs 400 crore over the next two-three years.

McLeod Russel sources said here today that Mcleod, the world's largest bulk tea producer with an output of 75 million kg, would focus on growth of its tea business.

At present, McLeod would have both Moran Tea and Doom Dooma Tea under its fold by the middle of the next year.

The Khaitan group has drawn up aggressive growth plans for other group companies including Eveready Industries and McNally Bharat.

Sources said Eveready's focus would be on packet tea business.

Investment of Rs 150-200 crore would go into this business over a few years. At present, Eveready has three packet tea brands-Jaago, Tez and Premium Gold.

Sources said the group has also planned to make McNally Bharat a mid-sized company. At present, it has a turnover of Rs 550 crore.

UNI