ITC to invest Rs. 1,000 crore into dairy, juice business.

ITC Ltd. will invest Rs. 1,000 crore for its ambitious foray into dairy and juice businesses which it plans to roll out in the January-March quarter, two people aware of the development said.

The Kolkata-based cigarette-to-FMCG-hospitality conglomerate will make the proposed investment in the short term on manufacturing capacity, marketing, brand building and distribution expenses, two senior industry executives told ET.

ITC has already undertaken over Rs. 250-crore investments on these two businesses. Early this year ITC acquired Bengaluru-based B Natural juice brand for about Rs. 50-60 crore, which is now being modernised both in terms of formulation and packaging.

ITC's expansion into dairy is done organically and involves setting up processing plants in Munger ( Bihar), Punjab, Uttar Pradesh, Maharashtra, Telangana and Andhra Pradesh. Trial production in Munger will start this month, Trial production in Munger will start this month, the executives quoted above said.


ET