ZEE Business
ZEE BUSINESS
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Market
    • Mutual Funds
    • Commodity
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » Companies News

ITC to invest Rs 800 crore on food processing, hotel in Odisha

  • Twitter
  • Facebook
  • GPlus
ITC to invest Rs 800 crore on food processing, hotel in Odisha
The firm will roll out ITC's food brands like Aashirvaad, Bingo, Sunfeast, YiPPee! from the unit. Representational image. Image Source: Company Website
By PTI
Updated: Thu, Dec 01, 2016
03:41 pm
PTI
RELATED NEWS
ITC, VST, Godfrey jump as GST Panel sets tobacco rate at 65% ITC, VST, Godfrey jump as GST Panel sets tobacco rate at 65%
ITC's cigarette business grows against all odds ITC's cigarette business grows against all odds
After TCS, Indian Hotels calls for EGM to remove Cyrus Mistry After TCS, Indian Hotels calls for EGM to remove Cyrus Mistry
After Indian Hotels, Tata Chemicals board reposes faith in Cyrus Mistry After Indian Hotels, Tata Chemicals board reposes faith in Cyrus Mistry
Indian Hotels to move Supreme Court against Delhi HC verdict Indian Hotels to move Supreme Court against Delhi HC verdict

Diversified group ITC will set up an integrated consumer goods facility and a five star hotel in Odisha at an investment of Rs 800 crore.

The integrated consumer goods manufacturing facility is being built on an area of 700,000 sq ft at Khordha district in Odisha. The firm will roll out ITC's food brands like Aashirvaad, Bingo, Sunfeast, YiPPee! from the unit, a company statement said.

Besides, the group is also setting up a 110 room five star hotel in Bhubaneswar under its WelcomHotel brand, it said.

"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 crore," ITC said, adding that the facility would be completed in 30 months.

These flagship projects were unveiled today in Odisha by Chief Minister Naveen Patnaik in presence of ITC Chief Operating Officer Sanjiv Puri, the statement said.

"ITC's investment in the processed foods sector in Odisha will add significant value to the state's agricultural potential. ITC believes that food processing sector can make a multi-dimensional contribution to the state by enhancing competitiveness of food value chain, encouraging sustainable agriculture, reducing agri-wastages and helping create livelihoods along the entire value chain," it added.

Puri said: "ITC is making fresh investments in Odisha in two landmark projects. We are grateful to the state government for their continuous support and guidance in furthering our investment plans in Odisha."

ITC, which has a diversified business portfolio, is growing presence in Odisha. ITC's FMCG businesses support livelihoods for over 7 lakh people in the state and also has been engaged deeply with farmers in Odisha.

"The company has been supporting local entrepreneurs and farmers to try new table potato varieties by providing agronomy support and supplying early generation seed potato and in Cuttack, Mayurbhanj, Bhadrak, Balasaur, Puri and Koraput districts," the statement added.

TAGS:
ITCITC hotelAashirvaadBingoSunfeastYiPPee!Fast Moving Consumer Goods (FMCG)
Next Article

NEXT STORY: Airtel, Idea shares nosedive as Reliance Jio free offer gets extension

RELATED NEWS
ITC, VST, Godfrey jump as GST Panel sets tobacco rate at 65% ITC, VST, Godfrey jump as GST Panel sets tobacco rate at 65%
ITC's cigarette business grows against all odds ITC's cigarette business grows against all odds
After TCS, Indian Hotels calls for EGM to remove Cyrus Mistry After TCS, Indian Hotels calls for EGM to remove Cyrus Mistry
After Indian Hotels, Tata Chemicals board reposes faith in Cyrus Mistry After Indian Hotels, Tata Chemicals board reposes faith in Cyrus Mistry
Indian Hotels to move Supreme Court against Delhi HC verdict Indian Hotels to move Supreme Court against Delhi HC verdict

LATEST NEWS

Railways recruitment 2018: Indian Railways receives 2.3 crore applications for just 90,000 jobs

One big reason why strong rally expected on TCS, Infosys, other IT stocks

Karnataka assembly elections 2018: BJP to fly in Narendra Modi for campaign

No 7th Pay Commission news for central government employees, but this state hikes DA for staff

Big worry for Reliance Infrastructure as Mumbai Metro, Reliance Naval net worth erodes

India loses 23 ha of dryland to drought, desertification per min:Vardhan

J-K approves 7th pay commission, employees to get over 20% hike from next month

JEE Main 2018 answer keys released at www.jeemain.nic.in; how to download

Have you invested in any Rakesh Jhunjhunwala portfolio stocks? They outrun benchmark indices

India declines to endorse China's BRI at SCO Foreign Ministers meet

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Contact Us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • Amazon Prime Day
  • Income Tax
  • Bharti Airtel
  • NPA
  • Home Loan

Trending Topics

  • Farm Loans
  • 7th Pay Commission
  • Sanitary Pads
  • National Stock Exchange
  • GST

Follow us on

zeebiz
zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved