A subsidiary of the South Korean company Lotte Confectionary Ltd., Havmor Ice Cream, announced on Tuesday that it plans to invest 450 crore over the course of five years to increase capacity in the nation.
Havmor Ice Cream will establish a new manufacturing facility at MIDC Talegaon in Pune as part of the investment. This plant will be the company’s first ever facility using Korean technology in India.
The facility, which is scheduled to open in 2024 and is being leased from MIDC, will be built on a total area of 60,000 square metres and “substantially” increase the company’s production capacity.
This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.