Tata Chemicals on Monday said it will invest Rs 100 crore in the next two years to ramp up the capacity of its salt manufacturing plant in Mithapur, Gujarat, to eight million tonnes from the present 5.5 million tonnes.
“We will pumping in Rs 100 crore in the next two years to increase the annual capacity of our Mithapur plant to eight million tonnes,” Tata Chemicals Chief Financial Officer P K Ghose said on the sidelines of launch of its nanotech water purifier ‘Tata Swach’ in Bangalore on Monday.
“At the moment, we produce salt worth Rs 500 crore at the plant, we want to take it to Rs 700-800 crore in the next two years,” he said.
The consumer products business of the firm, which only caters to the domestic market, is also trying to build a global business in bi-carbonate (used mainly in animal feeds), Ghosh said, adding the company has already invested £9 million in the UK for this business.
To a question, Tata Chemicals COO, Consumer Products, Ashvini Hiran said, “Besides salt in which we have three well-known brands and water, we will also be looking at staple foods in the near future. However, it is too early to say anything on this.”