Kwality to set up Rs 100 crore plant in Jharkhand

The company has entered into a Memorandum of Understanding with Jharkhand government for a project of milk and its products, which would employ up to 500 people.

By PTI | Updated: Apr 27, 2015, 11.41 PM IST

NEW DELHI: Dairy product firm Kwality Ltd today said it will set up a Rs 100-crore plant in Jharkhand.

The company has entered into a Memorandum of Understanding with Jharkhand government for a project of milk and its products, which would employ up to 500 people, Kwality said in a regulatory filing to the BSE.

"The project is proposed to commence in Financial Year 2018-19," the filing said.

However, it also added that it would be subject to obtaining necessary permission and clearances from the concerned departments of the state.

"In addition to investment of Rs 100 crore, it is also proposed that Kwality Limited will make investment towards Corporate Social responsibility (CSR) besides arranging skill upgradation/training of youths working population, running ITI in PPP or Private mode as per policy of the state Govt, or agreement arrived after mutual consent," it added.

Shares of Kwality Ltd today closed at Rs 38.90 per share, down 2.51 per cent from previous close.

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