Tata Global Beverages enters into LOI with Tata Steel’s arm

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Tata Global Beverages has entered into a ‘Letter of Intent’ (LOI) with Tata Steel Special Economic Zone, a wholly-owned subsidiary of Tata Steel, for setting up a Tea Packaging Unit in Gopalpur Industrial Park, Orissa, which will be used for the operation of manufacturing and storage of Tea and also will be used as Warehouse of all products of the Company, including its subsidiaries, associates and joint-venture companies. The above LOI was exchanged on November 12, 2018 during the ‘Make in Orissa’ conclave in Bhubaneshwar, Orissa.

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The estimated scalable capacity of the new unit is expected to be 36 million kgs per annum and it would be operational by 2020, post all statutory and regulatory clearances. The aggregate investments by both the companies for setting up this new Unit are expected to be around Rs 100 crore over a period of time.

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Tata Global Beverages is a global beverage business with a brand presence in over 40 countries. The company has significant interests in tea, coffee and water and is the world’s second largest tea company.