ITC to invest Rs 300 crore to set up a food processing plant

Kolkata, Apr 15 (UNI) Tobacco major ITC Ltd plans to invest Rs. 300 crore to set up a new food processing plant in West Bengal.

''ITC plans to invest about three billion rupees for an integrated food processing unit in east India,'' company's corporate communications vice-president Nazib Arif said.

Talking to reporters on the sidelines of a CII programme, Mr Arif said the proposed food processing unit would help the company expand its snack food business in the eastern region.

'' We are in an advanced stage of negotiation to get around 40 acres of land for the unit in West Bengal,'' he said.

The company hoped the land would be available soon, he added.

ITC was expanding its portfolio of foods which included biscuits, salty snacks and ready-to-eat foods, while reducing its dependence on tobacco business, he said.

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