ITC to foray into dairy whitener space

In a bid to expand its presence in the dairy segment, ITC is planning to foray into the dairy whitener space. The company is also in the process of ramping up its manufacturing capacity and expects to set up six-eight integrated food processing plants in the next three years. These will be massive facilities that will make a variety of products. So far, the company has a combination of contract manufacturers and company-owned manufacturing facilities.

The manufacturing facilities will come up in West Bengal, Assam, Karnataka, Tamil Nadu, Maharashtra and Punjab. While not giving out specifics, the plant coming up in Kapurthala alone will see investments of Rs1, 400 crore and be operational by next year.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.