Packaged foods organization Britannia Industries will expand its investment in Tamil Nadu to ₹550 crore from the previous arranged ₹300 crore to set up a plant in the region. The organization, in an announcement on Monday, said it has marked a Memorandum of Understanding (MoU) with the state government in such manner.
The organization intends to extend limit in the state given a flood in bundled food utilization in India. “Britannia announced that it has enhanced its investment plans from ₹300 crore to ₹550 crore over a period of 7 years in Tamil Nadu,” the organization said in an announcement. The proposed plant, with a land necessity of 85 acres, will make an variety of snacking products.
The investment will enable Britannia to create an expected 1,000 direct and indirect employment opportunities in the state.
The southern state is perhaps the greatest market for the producer of Tiger bread rolls and Good Day treats. “Tamil Nadu is one of our biggest and key markets for growth. It is the most diversified market and we have over the years invested towards strengthening our foothold in the state. We will continue to balance growth across our key markets as we look to further deepen our reach in the country,” said Varun Berry, managing director, Britannia Industries.
The organization is taking a gander at a general capex of about ₹700 crores to set up new offices in Uttar Pradesh, Tamil Nadu, and Bihar, while additionally extending producing capacities inside in existing plants in the conditions of Maharashtra and Odisha, said Berry.
India’s long lockdown helped the offer of sale of packaged foods. Buyers stuck at home helped drive interest for the organization’s cookies, spread, bread, and cheese.
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