Diversified group ITC has announced that it will set up an integrated consumer goods facility and a five star hotel in Odisha at an investment of Rs 800 crores. This integrated consumer goods manufacturing facility is being built on an area of 700,000 sq ft at Khordha district in Odisha, India. The firm will roll out the company’s food brands like Aashirvaad, Bingo, Sunfeast, YiPPee! from the unit, a company said in a statement.
Besides, the group has also announced that it will setup up a 110 room five star hotel in Bhubaneswar under its WelcomHotel brand.
ITC added that these investments including a state of the art integrated consumer goods facility and a five star hotel property entail an investment of nearly Rs 800 crores.
These flagship projects were unveiled today in the state Odisha by Chief Minister Naveen Patnaik in presence of the company’s Chief Operating Officer Sanjiv Puri, the statement declared. ITC's investment in the processed foods sector in Odisha, India will add significant value to the state's agricultural potential.
The company believes that food processing sector can make a multi-dimensional contribution to the state by enhancing the competitiveness of food value chain, encouraging sustainable agriculture, reducing agri-wastages as well as helping create livelihoods along the entire value chain.
ITC is recommended as one of the top 500 Shares identified by Dynamic Levels research team at the end of every quarter out of 1700 plus Shares of NSE. ITC has strong fundamentals. By strong Fundamentals we mean ITC has not made any losses in last 2 quarters, debt equity is less than 2 (not applicable for NBFC and banks) and pledge is less than 25 per cent. These top 500 Shares are safe for investment.
ITC share price closed at Rs 233.50, up by 0.41 per cent. Get the historical share price performance of ITC at ITC share price history.
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