Hatsun Agro Products (HAPL), which owns the popular Arun ice creams, Arokya milk and Ibaco brands, will invest Rs 240 crore in 2017-18 to set up two greenfield projects and an additonal Rs. 160 crore to expand its facilities.
The greenfield projects wil come up near Coimbatore and Ongole: the cattle feed plant near Ongole and the dairy ingredients unit at Palakode.
The investments will be met through internal accruals, a report in The Hindu said.
The company will invest Rs 110 crore in marketing, Rs. 25 crore for expanding its cattle feed plant and Rs. 25 crore for the manufacture of dairy ingredients.
“Preparatory works for greenfield projects will commence soon and the plants would go into stream by early 2018,” it quoted the company’s chairman and managing director R G Chandramogan, as saying.
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