New Delhi: Kolkata-based FMCG firm Emami on Wednesday said it is setting up a new plant in the North-East of the country at an investment of up to Rs 40 crore as part of expansion plans.
Construction work on the new plant is likely to start in the next two months, the company said, adding that it is expected to be operational within two years.
“A new plant is coming up in the North-East of India. We will invest Rs 30-40 crore in it. We are finalising the land deals there. Construction work is likely to start in the next two months,” Emami executive director Mohan Goenka said.
However, he declined to reveal the name of the state where the new plant will come up.
Emami already has two plants in Assam and according to sources, the new plant -- from where the company will manufacture the products of most of its brands, including Boro Plus and Navratna -- is likely to come up in the same state.
At present, the company has around 13 facilities across the country. Goenka said setting up the new plant is in line with the company’s strategy of sustaining an annual growth rate of 22% over the next few years.
“Our annual growth is estimated to be around 22%. To maintain this rate, we have to expand our production capacity,” he said.
Emami expects to close this fiscal with a turnover of Rs 1,600 crore. Last fiscal, it had a turnover of Rs 1,250 crore.
In addition, the company is already in the process of setting up a plant in Bangladesh at an investment of Rs 15-20 crore.
This is expected to be operational in the next 3-4 months.