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The company plans to invest 2,500 crores in Telangana to expand its existing activities ITC plans to invest 25,000 crores in various sectors over the next five years years. As part of this plan, the company is exploring new businesses, particularly in the health care sector, and a plan of operations is expected to be presented to the board soon.
The company signed a memorandum of understanding with the Ministry of `10,000 crore for the establishment of 20 logistics parks across the country. While significant investments will be made to create tourism badets such as hotels, the rest will be in the food processing sector for the creation of logistics parks, in addition to the addition of capacity in the sector cardboard.
"We have an investment plan of about 25,000 crore over the next five years and this would go mainly to both proprietary hotels and the managed hotel business. This would include the addition of 2,500 rooms to bring the total inventory to 12,000 in five years, from 9,500 to now. It is expected to have 130 hotels of the current level of 107 hotels in the next five years, "said MD Sanjiv Puri.
The next big segment is the food processing sector and we have a protocol of 39 agreement with the Ministry to invest 10,000 crore over the next few years to create integrated centers for consumer goods and manufacturing and logistics on a pan-Indian basis,
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