Leading fast moving consumer goods major Dabur India is setting up a new plant at Madhya Pradesh with an estimated total investment of Rs 550 crore. It is the largest investment in a specific location for the company till date, the Ghaziabad-based firm said today.
The firm has already secured a 51 acre land parcel and begun construction work for the initial phase, which is scheduled to be completed within the current financial year. Apart from the recently launched production linked incentive (PLI) scheme for the food processing sector by the union government, Dabur has availed the state government’s Mega Projects Scheme to materialise its plan.
“This new facility will provide us the space needed to rapidly expand our production capacity to not only satisfy the growing demand for ayurvedic products and medicines but also develop and launch innovative food products for the future. The new factory is a step forward towards strengthening our position as the world’s largest ayurvedic products and medicines manufacturer and a market leader in Indian foods and beverages category”, said Mohit Malhotra, chief executive officer, Dabur India.
As per estimates, located in the SMART Industrial Park near Indore, the plant will provide employment to 1,250 people initially and over 3,000 people at the end of the final phase. The company plans to produce food products, ayurvedic medicines and health supplements from the new units.