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ITC plans infusion of Rs 3,000-cr annually for growth

Wednesday, 29 Mar 2023
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ITC plans to accelerate investments with a corpus of around Rs 3,000 crore annually for the next few years, which will be geared towards enhancing manufacturing capacities and driving growth.

The investment plan includes an integrated consumer goods factory in Odisha, a personal care products facility in West Bengal, a moulded fibre products unit in Madhya Pradesh, a nicotine derivatives plant for exports in Karnataka, apart from two integrated consumer goods and logistics facilities in UP and Madhya Pradesh.

The company will be leading its expansion drive in FMCG and paper and paperboard's businesses, which will include sustainable packaging solutions, renovation, technology and assets upgradation across business segments.

For its hotels business, it will take its demerger plans and create an ‘alternate structure’ in the ensuing quarters, with a focus on forging management contracts.

 
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