BackITC looking to enter seafood, frozen food categories
The company is investing `4,500 crore in West Bengal to set up two consumer goods manufacturing facilities and an IT and knowledge facility
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Kolkata: ITC Ltd on Wednesday said it is looking at entering newer product categories such as seafood and frozen foods.
Chairman Y.C. Deveshwar said the company is already exporting shrimps and enjoys a large play in the commodity exports category. “We can become a branded packed shrimp player across India," he said.
The Kolkata-based company with interests in cigarettes, packaged food, personal care, apparel, hotels and information technology is also looking to set up cold chains for products like shrimp, fish, vegetables and fruits and asked the state government for additional land parcels near its plant at Uluberia in Howrah.
Over the next 15 years, ITC is eyeing a turnover of 1 trillion from the fast-moving consumer goods segment, which requires it to enter new product categories.
ITC has plans to manufacture frozen food, chocolates, fruit juices at its Uluberia unit, for which it requires more space. While getting land closer to the existing plant is “more desirable", Deveshwar said that non-availability of land in the desired area would not restrict growth. “We will build a bigger factory somewhere else."
The company is investing 4,500 crore in West Bengal to set up two consumer goods manufacturing facilities in Howrah and an IT and knowledge facility in Rajarhat, near Kolkata.
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