Goodricke to spend Rs 11 cr for modernisation of tea gardens
Tea manufacturer Goodricke Group will spend around Rs 11 crore for modernisation and uprooting of old tea bushes at its gardens during the current financial year, a company official said on Saturday.
By PTI |
KOLKATA: Tea manufacturer Goodricke Group will spend around Rs 11 crore for modernisation and uprooting of old tea bushes at its gardens during the current financial year, a company official said on Saturday.
The modernisation plan would be funded through internal accruals and term loans, Goodricke Managing Director and CEO A N Singh told reporters.
The company has 15,000 hectares area under tea cultivation at its gardens in West Bengal and Assam.
He said that during the current year, tea prices would remain firm due to short supply. Average price realisation had also gone up to Rs 89 per kilogram from Rs 70 per kilogram last fiscal.
Goodricke also expects to register a good growth this fiscal for its instant tea business.
At the end of December 2007, the company had posted a revenue of Rs 237 crore.
The modernisation plan would be funded through internal accruals and term loans, Goodricke Managing Director and CEO A N Singh told reporters.
The company has 15,000 hectares area under tea cultivation at its gardens in West Bengal and Assam.
He said that during the current year, tea prices would remain firm due to short supply. Average price realisation had also gone up to Rs 89 per kilogram from Rs 70 per kilogram last fiscal.
Goodricke also expects to register a good growth this fiscal for its instant tea business.
At the end of December 2007, the company had posted a revenue of Rs 237 crore.
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