ITC to invest Rs 1,000 cr in food, consumer goods sector

Cigarettes-to-hotels conglomerate ITC today said it will invest Rs 1,000 crore in food and consumer goods sector in the next two to three years. The company got the possession of 39 acres last week at Panchla in Howrah district where it would build an integrated food and consumer goods facility, an ITC spokesperson said, adding that it will invest Rs 1,000 crore in the foods and consumer goods segment in the state over 2-3 years.

The land was given by the West Bengal Industrial Infrastructure Development Corporation. ITC had already got a parcel of 18 acres at Uluberia in Howrah district where a similar integrated facility would commence. the spokesperson said, adding that both the facilities would be  carried out simultaneously and were likely to be operational in the next two years.