Indian conglomerate (ITC) recently announced an investment of Rs 1,500 crore in Madhya Pradesh to set up an integrated food manufacturing and logistics facility and a sustainable packaging products manufacturing facility at Sehore. The company said the two projects will be spread over an area of nearly 57 acres and will give a boost to agricultural and manufacturing sectors in the state.
The two projects, when complete, would entail a total investment outlay of Rs 1,500 crore which will support livelihoods across sustainable value chains. Chief Minister Shivraj Singh Chouhan, while announcing the projects said, “Bhumi Pujan has been done for two factories in Badiyakhedi. The new plants will act as a pillar of economic growth enabling employment for around five thousand of the state’s citizens.” Badiyakhedi is in Sehore district.
“We aspire that the produce of our farmers should yield the right price, and employment growth is too rare an opportunity. There are limitations to farming, such as the capacity of the land, and not many generations can sustain it alone. There should be avenues other than farming. The Madhya Pradesh government is trying its best to bring in more investments,” Chouhan said at the foundation laying event.
Moneycontrol reported that ITC’s food plant will manufacture products for the atta brand Aashirvaad, Sunfeast biscuits, and YiPPee noodles. The molded fiber products facility, on the other hand, is expected to be a pioneer in sustainable packaging and contribute to plastic substitution in areas such as packaging for electronic items, FMCG, and the food and beverage sector.
The company in a press release said the facility at Sehore is poised to add value to the state’s manufacturing sector and support inclusive agri-value chains. “ITC believes the food processing sector, being at the intersection of agriculture, industry, and services, can make a multi-dimensional contribution to the state’s economy by enhancing the competitiveness of the food value chain.”
ITC chairman Sanjiv Puri said, “In line with our commitment to contribute to the socio-economic development of the state, we are now investing in two world-class facilities including the integrated food manufacturing and logistics facility and the sustainable packaging products manufacturing facility at Sehore. This facility will also be a landmark in sustainability with the unit being designed to IGBC green building platinum standards.”
आज बड़ियाखेड़ी में दो फैक्ट्रियों का भूमिपूजन हुआ है। लगभग ₹1500 करोड़ का निवेश यहाँ होने वाला है, जिससे हमारे 5 हजार बच्चों को रोजगार मिल सकेगा। pic.twitter.com/zOKMTvrTTI
— Shivraj Singh Chouhan (@ChouhanShivraj) September 3, 2023
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