KOLKATA: Sanjiv Puri-led diversified conglomerate
ITC
plans to
invest
Rs 20,000 crore in various sectors in the next five years. The maximum
investment
will be in the
FMCG
business, followed by paper board and packaging and other sectors.
ITC is also introducing a new brand for health and wellness sector called Right Shift. After the company’s AGM, Puri said in FMCG it would invest around 35-40% (Rs 7,000-8,000 crore) of the projected amount.
Paper board and packaging would account for 30-35% while the rest of the investment would be in other businesses, including agriculture.
The investments will be made for capacity augmentation, innovation and upgradation. Puri said the FMCG investments will be made in three-four areas. It would be in Integrated Consumer Goods Manufacturing and Logistics facilities (ICML) to reduce the cost of delivery, apart from new sites and new products.
Puri made it clear that the investments will be more of organic nature though there will be some inorganic component also. Elaborating on plans for paperboard, he said ITC was looking for a new location for the business. “Our site in Bhadrachalam is saturated. We have to look for other sites and work is on for this,” he added.
