CCL Products announces ₹800 crore expansion plan

Chala Srichant, Managing Director, Inc CCL Products (India) Ltdwhich has just achieved the milestone of $1 billion in market capitalization, is the leader in the second generation domestic coffee plant.

In an exclusive interview with Business linetalking about the future outlook for Global coffee industry, the company is expanding plans.

It announced a capital expenditure of Rs 800 crore for expansion, which includes a new project in Andhra Pradesh with an investment of Rs 400 crore. The company is also expanding its capacity in Vietnam by investing another Rs 400 crore.

He feels that the price of coffee is unreasonably high in the Indian market, due to the very high import duties on coffee products. It should be reduced to 30 percent so that Indian consumers can have access to a variety of coffee products. This will not affect farmers because they are still protected,” he points out.

CCL Products stock, which closed at Rs 665.85, is trading at Rs 664.10 -1.75 (-0.26%) on the Bombay Stock Exchange on Thursday.