Dec 25, 2006

ITC, Marubeni ink deal for food biz

Japanese trading house Marubeni today announced a tie-up with ITC for food business including exports of Indian beans.

According to a release issued by Marubeni, the two companies will jointly consider exporting Indian-made soybean cake and maize grains for livestock feed.

The companies will also consider jointly building silos and other grain-related facilities and launching a soybean protein business, the release added.

ITC to invest Rs 1,540cr for hiking paper production

ITC is planning to invest Rs 1,540 crore in the next two years to expand production capacity for paperboards and specialty papers."We are creating two centres of board manufacturing in Bhadrachalam and Coimbatore units. In Bhadrachalam (Andhra Pradesh), we will make an overall investment of Rs 1,100 crore by April 2008," Pradeep Dhobale, chief executive (paperboards and specialty division) of ITC, told PTI.

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