Tata Coffee received board approval on Thursday for a capacity expansion of its wholly-owned subsidiary in Vietnam at an investment of Rs 450 crore. The approved expansion involves setting up an additional 5,500-tonne freeze-dried coffee facility in Vietnam, as stated in a regulatory filing by the company.
Tata Coffee disclosed that the investment for this expansion would amount to USD 53.3 million (approximately Rs 450 crore). The funds will be derived from internal accruals and bank financing.
Currently, Tata Coffee Vietnam Company has a capacity of about 5,000 tonnes, with approximately 96% of the total capacity in use.
The planned additional capacity, to be implemented in the next two years, is aimed at meeting the growing demand for freeze-dried coffee products, according to the company.
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