New Delhi, May 02: Godfrey Phillips, a flagship of K K Modi Group, today announced that it will invest Rs 600 crore to modernise its existing cigarette making facilities
as part of its restructuring plan even as government has banned smoking at public places and tobacco advertisement directly or indirectly.
"This is keeping with our objective to make our manufacturing capabilities in India on par with international standards. This will in turn facilitate and support our plans to increase our export business," K K Modi, president of Godfrey Phillips India, told.
"The company will launch international brand of cigarette
for the export market next month." he said.
Announcing the investment plans, Modi said the entire money would be invested in plant modernisation in Mumbai and Ghaziabad to increase quality and productivity.
He said of the total investments, Rs 114 crore would be used in the current financial year while the remaining would be spread over the next four years.
As part of its restructuring plan, the company has decided
to split its two divisions -- domestic and international, as
part of overall mandate to "restructure for growth."
Bureau Report
