Oct 15, 2020
To cater to the growing demand for its products, Britannia Industries is enhancing its investment in Tamil Nadu to Rs. 550 crore from earlier Rs. 300 crore. The company has signed a memorandum of understanding (MoU) with the Tamil Nadu government. The MoU would also generate a total of 1,000 direct and indirect employment opportunities in the state.
Britannia Industries Managing Director Varun Berry stated that Tamil Nadu is one of the principal markets for growth and the projected plant with a land requirement of 85 acres will manufacture a variety of snacking products from the company.
The company is looking at an overall capital expenditure of about Rs. 700 crore to set up new facilities in Uttar Pradesh, Tamil Nadu, and Bihar, while also expanding the manufacturing capabilities of our existing plants in Maharashtra and Odisha.
Britannia Industries had a revenue of Rs. 10,986.68 crore in 2019-20.