Dec 19, 2016 10:34 PM IST IST | Source: PTI

Tata Coffee to set up Rs 350-cr new facility in Vietnam

In a filing to the BSE, Tata Coffee said that the board "approved the setting up of a state-of-the-art greenfield freeze dried instant coffee facility in Vietnam of 5,000 tonnes per annum." This would be done through a subsidiary of the company to be incorporated, it added.

Tata Coffee today said it would set up a greenfield instant coffee facility in Vietnam at a cost of USD 50 million (about Rs 350 crore).

In a filing to the BSE, Tata Coffee said that the board "approved the setting up of a state-of-the-art greenfield freeze dried instant coffee facility in Vietnam of 5,000 tonnes per annum." This would be done through a subsidiary of the company to be incorporated, it added.

"Estimated project cost is USD 50 million (about Rs 350 crore)," Tata Coffee said.

In a separate filing, Tata Coffee said the board appointed Anantha Murthy N as the company Secretary and Compliance Officer with effect from December 20, 2016.

Suryanarayanan NS, who earlier held the position of company secretary and compliance officer, retired from the services of the company today.

Shares fell 1.13 per cent to Rs 113.75 apiece on the BSE.

Tata Coffee is a subsidiary of Tata Global Beverages Ltd.

It is Asia's largest integrated coffee company, the second largest exporter of instant coffee, and major producer of speciality coffee in India.

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