Hyderabad: ITC Limited, a multi-business conglomerate is planning to enter in the healthcare sector, ITC Limited Managing Director Sanjiv Puri said on Monday.
Talking to newsmen after the launch of ITC Kohenur, a super luxury hotel at Cyberabad, here, Mr Sanjiv said that a study was going on within the company members. “It will be announced once after the study is completed. If necessary the company will take the consultancy services support”, he said.
Mr Sanjiv said that earlier, the company has decided to invest Rs 25,000 crore during the next five years. As part of it, the company would invest Rs 2,500 crore in Telangana including ITC Kohenur (RS 750 crore). Investments are also being made in the Paperboards Business for capacity expansion and the introduction of new technologies in existing paper manufacturing plants located in Bhadrachalam and Bolaram.
The company also investing in a state-of-the-art Integrated Consumer Goods Manufactruing and Logistics Facility (Rs 800-Rs 1000 crore) in Medak, to be commissioned likely by 2019, he said and added that the company already been invested Rs 2,500 crore so far in the state.
Mr Sanjiv said that the company had signed an MOU with the Ministry of Food Processing Industries, Government of India to invest a sum of Rs 10,000 crore in the food processing sector in the country. As part of it, ITC would set up 20 state-of-the-art Integrated Consumer Goods Manufacturing and Logistics Facilities in 12 states across India.
At these facilities, the company would be manufacturing its world-class branded food products, including Aashirvaad atta (the wheat flour brand), Sunfeast biscuits, Yippee noodles, Bingo snacks, B-Natural juices, and processed fruits and vegetables, he said.