Tata Global Beverages has announced its plan to set a new tea packaging unit with an investment of Rs 1 billion at Tata Steel Special Economic Zone in Odisha.
The company said in a regulatory filing: “The company has entered into a letter of Intent (LOI) with Tata Steel Special Economic Zone Ltd, a wholly-owned subsidiary of Tata Steel Ltd, for setting up a tea packaging unit in Gopalpur Industrial Park, Odisha.”
It said further: “The aggregate investments by both the companies for setting up this new unit are expected to be around Rs one billion over a period of time.”
Tata Global Beverages said the estimated scalable capacity of the new unit is expected to be 36 million kgs per annum and it would be operational by 2020, post all statutory and regulatory clearances.
It added the planned unit will be used for the operation of manufacturing and storage of tea and will also be used as warehouse of all products of the company, including its subsidiaries, associates and joint-venture companies.
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