ITC to invest in hotel, food

By OUR CORRESPONDENT

ShivAganga

Aug. 3: ITC Ltd is planning to invest over Rs 4,000 crore for creating assets in the hotel, food and FMCG business in the next two years.

"We have made an investment of around Rs 4,000 crore in the hotel, food and FMCG industries in the last two years. Certainly, we will be investing more than Rs 4,000 crore in these segments in the next two years," said Mr Y.C. Deveshwar, chairman of ITC Ltd on the sidelines of the launch of eChoupal network in Shivaganga on Saturday.

He said the company’s largest hotel project with 1.4 million built up area is coming up in Chennai at an investment of Rs 1,200 crore.

In Kolkata, ITC is setting up its second 1.2 million sq ft hotel at an investment of Rs 860 crore. ITC’s second hotel in Bengaluru will be ready soon.

"We have land at Ahmedabad, Hyderabad and Delhi. We will set hotels in all these places. In addition, we have many joint venture projects with leading hotel chains," he said.

Earlier, inaugurating ITC’s e-Choupal here Union finance minister, Mr P. Chidambarm, said it would bring vital infrastructure and modern technology for the benefit of the farmers in Shivaganga, his constituency.