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ITC sets up 8 state-of-the-art facilities; plans Rs 20,000 crore investment in the medium term

The eight state-of-the art facilities that ITC has commissioned recently include a Foods facility, a Moulded Fibre factory for plant-based sustainable packaging and a unit for personal care

November 08, 2024 / 18:59 IST
The company plans to invest Rs. 20,000 crore across various businesses in the medium term.
     
     
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    Multi-business conglomerate ITC Limited has invested in eight state-of-the-art manufacturing units across the country as part of its ITC Next strategy to build Make-in-India assets. According to ITC, these units, which have commenced recently, are in sectors ranging from FMCG, Sustainable Packaging to Value-added Agriculture.

    In line with the ITC Next strategy, which is designed to shape the next horizon of growth and profitability for the organisation, the company plans to invest Rs. 20,000 crore across various businesses in the medium term.

    Encouraged by the Government's progressive policy measures, including PLI, as well as its thrust on strengthening the physical and digital infrastructure in the country, ITC has made significant investments across its businesses.

    “Our confidence in the India growth story is unwavering and is reflected in ITC’s investment outlay of about Rs. 20,000 crore in the medium term. Investments are being scaled up across FMCG, Paperboards and other businesses, as well as in accelerating digital transformation and strengthening the agri back end,” said Sanjiv Puri, Chairman, ITC Ltd.

    The eight state-of-the art facilities that ITC has commissioned recently include a Foods facility, a Moulded Fibre factory for plant-based sustainable packaging and a unit for personal care products. Other recent investments include a global spices processing facility, a world-class packaging plant, an export-focused plant and 2 integrated consumer goods facilities.

     

    first published: Nov 8, 2024 06:59 pm

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