Indian conglomerate ITC plans to invest INR5bn ($90.43m) to set up an integrated food and logistics hub in Howrah, West Bengal.
The hub, which will be located on a 57-acre land, will serve West Bengal as well as the neighboring states. Currently, the company is in the process of procuring the land, reported PTI.
Meanwhile, the company has announced its plans to invest INR250bn ($4.52bn) over a period of five to seven years over 40 projects across the country. The projects would be related to agriculture, food and personal care segments.
ITC also said that it is looking to enter into the dairy segment, in which it is not yet present.
While the company generates most of its sales through cigarettes, it has forayed into packaged food category with brands such as Bingo and Sunfeast, which have driven its revenues.
