ITC to invest $100 Mn in Himachal Pradesh

ITC to invest $100 Mn in Himachal Pradesh

Monday, 31 March 2008, 07:00 Hrs
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Shimla: ITC, one of India's foremost private sector multi-business conglomerates, is keen to set up a 4 billion ($100 million) personal care and food processing unit in Himachal Pradesh, officials said Monday.

Sources in the state industries department said ITC wants to avail its tax holiday package and has recently come up with an industrial proposal to set up a unit in industrial hub of Baddi, some 100 km from here.

ITC has a huge market share in its traditional businesses of cigarettes, hotels, paperboards, packaging and agri-exports and is rapidly gaining a share in businesses of packaged foods and confectionery, branded apparel and greeting cards.

The officials said the ITC's proposal would come up for consideration in the single window clearance committee meeting to be chaired by Chief Minister Prem Kumar Dhumal soon.

ITC proposes to manufacture personal care products like soaps, shampoo, besides processed food products like confectionery.
Source: IANS
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