Tata Chemicals to invest Rs. 150 crore in nutraceutical plant near Chennai.

Tata Chemicals Ltd., part of $100 billion plus Tata Group, is expected to invest around Rs. 150 crore into setting up a nutraceuticals manufacturing facility in Sriperumbudur, near Chennai in next three years. The company is expecting its branded and non-commodity business, which is currently at 22 per cent of the turnover, to to up to 50 per cent in next seven years.

Speaking to the reporters in the sidelines of the launch of 'Salt of the Earth: The Story of Tata Chemicals' authored by Philip Chacko and Christabelle Noronha, R Mukundan, managing director of Tata Chemicals said that the production in the greenfield facility has started and an official launch is scheduled by the end of this month. The size of the relevant market the company is looking at would be $5-7 billion internationally, he added.

The company is in talks with various players in various parts of the world for exports of nutraceutical products and it would be primarily to the European and other Asian countries. Pharmaceutical companies are the buyers for these products.


BS