The food park, for which the MoU was originally signed in 2013 will mark further expansion in the investments of ITC, which is already running three hotels, in the state. (Representational Image)
The Punjab government on Wednesday said ITC Limited will invest Rs 1700 crore more in the integrated food park in Kapurthala. A government release said this was conveyed to Punjab Chief Minister Amarinder Singh by an ITC delegation, led by CEO Sanjiv Puri, at a meeting here on Wednesday. Puri informed the Chief Minister that the company planned to start commercial production from the plant, the biggest of its kind in the country, from October this year.
Besides atta, biscuits and snacks, the project would include manufacture of juices and dairy products.
“The ITC delegation further informed the Chief Minister that the company would be purchasing one million tons of wheat, along with one lakh tons of potatoes, every year from the state for the food park. The food park would generate around 5000 jobs for the people of Punjab,” said the release.
The food park, for which the MoU was originally signed in 2013 will mark further expansion in the investments of ITC, which is already running three hotels, in the state.
The initial investment planned in the project was Rs 680 crore, which was subsequently, in 2015, enhanced to Rs 1400 crore, which the company now plans to increase further to Rs 1700 crore, said the government communique.
