CG Corp Global plans to invest Rs 200 crore in India
Nepal-based CG Corp Global plans to invest Rs 200 crore to set up two new manufacturing plants in West Bengal and Uttar Pradesh. The company’s FMCG arm CG Foods is eyeing Rs 1,500 crore revenue from its popular noodles brand Wai Wai in one year’s time as its aims to become a multi products company.
“We are investing every year in ramping up capacity. Our capacity is growing by 40 per cent every year… Our strategy of being close to the market will continue… We intend to invest Rs 200 crore to set up two plants in a year’s time in West Bengal and Uttar Pradesh,” CG Corp Global chairman Binod Chaudhary said. Elaborating on growth outlook for the FMCG arm, Chaudhary said: “We hope to achieve Rs 1,500 crore (revenue) mark in the next one year’s time for Wai Wai. Wai Wai will become a multi products company.”
