ITC opens new food manufacturing and logistics facility worth Rs450 crore in Telangana

31 Jan 2023 , 11:05 AM

Telangana Minister for Information Technology and Industries K T Rama Rao inaugurated ITC's Rs450 crore state-of-the-art Integrated Food Manufacturing and Logistics Facility in Medak on Monday.

According to an ITC press release, the inauguration was held in the presence of Sanjiv Puri, Chairman and Managing Director of ITC Ltd.

The food processing facility, which is spread across nearly 59 acres of land and has a built-up area of 6.5 lakh square feet, will require an initial investment of Rs450 crore and will create large-scale livelihoods across sustainable agri-value chains.

The future-ready facility, which is outfitted with end-to-end digital infrastructure, will manufacture ITC's world-class food brands such as Aashirvaad atta, Sunfeast biscuits, Bingo! chips, and Yippee! It said noodles, among other things, would be available in phases.

According to Sanjiv Puri, this unit will also be a sustainability flag-bearer because of the multi-faceted initiatives that will support sustainable and inclusive growth as well as promote extensive use of renewable energy.

At around 10.37 AM, ITC was trading at Rs343.80, down by 0.087% against the previous close of Rs344.80 on NSE. The counter touched an intraday high and low of Rs346.80 and Rs341.05 respectively.

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