Hyderabad: Britannia Industries Ltd, maker of Good Day and Tiger biscuits, will invest ₹ 125 crore on the first phase of an agro-processing facility it plans to set up in Chittoor district of southern Andhra Pradesh.
The facility will service Chennai and Bengaluru markets, which are 160km and 180km away, respectively, according to the Andhra Pradesh government statement on Monday.
Chittoor district is strategically located between Chennai and Bengaluru and houses plants of other fast moving consumer goods (FMCG) companies such as PepsiCo Inc. and Kellogg Co.
The first phase of the facility is expected to be commissioned by 2016 end, Varun Berry, managing director of Britannia, told Andhra Pradesh chief minister N. Chandrababu Naidu at a meeting in Vijayawada, according to the state government.
Britannia has 13 biscuit brands in its portfolio. It also sells cakes, dairy products, bread and rusk. The company derives three-quarters of its business from biscuits with the remaining coming from cakes, dairy and rusk, according to Berry. Its annual revenues during 2014-15 stood at ₹ 7,176 crore.
