CCL Products to invest $20 million in Chittoor, Vietnam

CCL Products is planning to expand its Vietnam plant as well as set up an agglomeration and packing unit in Chittoor, Andhra Pradesh, with an investment of $20 million.

The private label instant coffee manufacturer exports to over 90 countries. As far as the investment plans are concerned, $8 million is to be invested on the coffee making plant in Vietnam, taking its capacity from 10,000 tonne to 13,500 tonnes, while the remaining $12 million will go towards the agglomeration and packing unit to be established in Chittoor.

Speaking to reporters, managing director Challa Srishant said thhe investment, which is to be met through internal accruals, is to be made this year and the facilities will get into operations mode next fiscal.

It is to be noted that CCL Products is expecting more demand from several export markets, especially the United States, where stricter quality regulations are being put in place.

Image Credit : www.moneycontrol.com

Related Projects : Rs.853 Million New Agglomeration and Packing Unit in Chittoor, Andhra Pradesh

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