Indian conglomerate ITC is planning to set up a food processing plant in the upcoming mega food park in Murshidabad district,West Bengal.
The company is in negotiations to purchase a five-acre land in the food park,which is promoted by the state government and five other private firms.The food park is likely to be operationaly by March 2013.
Recently,the conglomerate teamed up with Keventor Agro to manufacture'Yippee'noodles brand in West Bengal.
Earlier this year,ITC announced plans to invest INR5bn($90.43m)to set up an integrated food and logistics hub in Howrah,West Bengal.Meanwhile,it also plans to invest INR250bn($4.52bn)over a period of five to seven years in 40 projects,which would be related to agriculture,food and personal care segments,across the country.
While the company generates most of its revenues through cigarettes,it entered into packaged food segment with brands such as Bingo and Sunfeast,which have driven its revenues.
