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ITC to invest Rs 2,500 cr in Telangana

ITC to invest Rs 2,500 cr in Telangana
Highlights

ITC Limited, which has diversified presence in FMCG, hotels, paperboards & packaging, agri business and information technology, on Monday emphasised that it is going to consolidate its growing presence in Telangana across all three sectors of the economy –agriculture, manufacturing and services.

Hyderabad: ITC Limited, which has diversified presence in FMCG, hotels, paperboards & packaging, agri business and information technology, on Monday emphasised that it is going to consolidate its growing presence in Telangana across all three sectors of the economy –agriculture, manufacturing and services.

Sanjiv Puri, ITC Managing Director, said, “Our company which has already invested about Rs 2,500 crore in the State, including investment in the Kohenur Hotel launched today, is planning a similar investment for an integrated consumer goods manufacturing unit, a logistics facility (both at Medak) and for capacity augmentation and efficiency of Bhadrachalam Paperboard.”

He went on to add, “ITC would invest Rs 25,000 crore over the next five years in various sectors, of which Rs 10,000 crore would be invested in food processing. Our vision is to build 20 integrated consumer goods manufacturing and logistics hubs in the country. Some of them are under construction.”

ITC on Monday announced the inauguration of its super luxury hotel ITC Kohenur in Hyderabad by Minister K T Rama Rao. The hotel built with an investment of around Rs 775 crores offers 271 high technology enabled rooms, suites and service apartments and 6 signature restaurants.

On the hotel business, Puri said, “We plan to add 2,500 rooms to our hotel segment to take the total inventory to 12,000 in five years from 9,500 now by adding another 24 hotels which are at various stages of construction, both owned and managed. This would take our hotel count from 106 to 130.”

He said ITC appointed a committee internally to examine the possibility of foraying into the healthcare space. Once the report is submitted, the Board would examine it and take a final call.

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