CCL Products (India) Ltd, formerly known as Continental Coffee Ltd, would set up its new manufacturing plant at Continental Coffee Park in Kuvvakolli village in Tirupati district in Andhra Pradesh, with an investment of Rs 400 crore.
Last week, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy laid the foundation for the new plant which will generate more than 100 direct jobs.
CCL Products (India) Ltd, formerly known as Continental Coffee Ltd, would set up its new manufacturing plant at Continental Coffee Park in Kuvvakolli village in Tirupati district in Andhra Pradesh, with an investment of Rs 400 crore.
Coming up on 22 acres, the plant, with an annual capacity of 16,000 metric tonnes, will manufacture spray-dried instant coffee. The production at the new plant will start in the fourth quarter of the current financial year, Challa Rajendra Prasad, Founder and Chairman of CCL Products said on Tuesday at a press conference.
The funding for the new plant will be done through internal accruals and partly term loan, he said.
Last week, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy laid the foundation for the new plant which will generate more than 100 direct jobs.
From its humble beginnings with a manufacturing setup of 3,000 tonnes per annum (TPA), the company scaled up, reaching a staggering capacity of 55,000 TPA in the last 28 years.
CCL today has four manufacturing plants, two in India and one each in Vietnam and Switzerland.
CCL Products shares traded at Rs 646.85 apiece on BSE at 12.35 PM today.