ITC, an Indian conglomerate, announced on Sunday that it would invest Rs 1,500 crore in Madhya Pradesh to build a facility for integrated food manufacturing and logistics as well as a facility for the production of sustainable packaging products in Sehore. The two projects, according to the business, would be distributed across a region of almost 57 acres and will support the state’s manufacturing and agricultural industries.
Madhya Pradesh Chief Minister’s Vision
“The two projects, when complete, would entail a total investment outlay of Rs 1,500 crores which will support livelihoods across sustainable value chains,” it said. Chief Minister Shivraj Singh Chouhan, while announcing the projects said, “Today, Bhumi Pujan has been done for two factories in Badiyakhedi. An investment of about Rs 1,500 crores is going to happen here, due to which our 5 thousand children will get employment.” Badiyakhedi is in Sehore district. “One of the things that has been running in my mind is that everything that we are producing should enable our farmers to earn the rightful price here itself, and the other thing is that our children should get employment here. There are limitations to farming…our children should get permanent jobs, which is why there should be avenues other than farming. The Madhya Pradesh government is trying its best to bring in investments,” he said in the foundation laying event.
Aashirvaad, Sunfeast, and YiPPee to Roll Off New Food Plant
Products for the atta brand Aashirvaad, Sunfeast biscuits, and YiPPee noodles will be produced at the ITC food plant. On the other hand, the facility for moulded fibre products is anticipated to be a leader in sustainable packaging and help replace plastic in industries including food and beverage, FMCG, and electronic device packaging. The Sehore facility, according to the business, is ready to boost the state’s manufacturing industry and assist inclusive agri-value chains. “ITC believes that the food processing sector, being at the intersection of agriculture, industry and services, can make a multi-dimensional contribution to the state’s economy by enhancing the competitiveness of the food value chain,” it said.
Sustainability and Socio-Economic Growth in Madhya Pradesh
ITC Chairman Sanjiv Puri said, “In line with our commitment to contribute to the socio-economic development of the state, we are now investing in two world-class facilities including the Integrated Food Manufacturing and Logistics Facility and the Sustainable Packaging Products Manufacturing Facility at Sehore. This state-of-art facility will also be a landmark in sustainability with the unit being designed to IGBC green building Platinum standards,” he said. ITC already has large production operations for foods and agarbattis in the state. In the meantime, ITC stock was down on Monday morning trading. The stock was down 0.19 percent from its previous finish of Rs. 441.25 to trade at Rs. 440.50. The counter’s turnover was Rs 2.04 crore, and it has a Rs 5,50,401.11 crore market capitalization (m-cap).
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