Lotte India opens expanded confectionery facility near Chennai
The Hindu
Lotte India expands confectionery factory in Chennai, investing ₹185 crore to increase production of Choco Pie products to 1,420 tonne/month. Factory area now 5,16,398 sq.ft, 32% larger. Zero Accident Hours in 10 yrs, 99% retention rate, 200 workmen welcomed. FY22 sales ₹497 crore, FY23 ₹657 crore.
Lotte India has expanded its confectionery factory in Nemam, near Chennai, by investing ₹185 crore to meet the rising domestic demand and also to support potential opportunities for exports in the future.
The expansion would enable the confectioner to increase the production of its iconic Lotte Choco Pie products, to 1,420 tonne per month from the current 545 tonne per month, the firm said in a statement.
“With an additional 85,562 square-foot, our factory’s facility area has witnessed substantial expansion, increasing from 18% to 32%, making it one of the largest factories in India at a total size of 5,16,398 square-foot,” said MD Milan Wahi.
Asserting that Lotte India achieved ‘Zero Accident Hours’ in the last 10 years due to high safety standards practised inside the factory, he said that with a 99% retention rate at the factory, Lotte India is now set to warmly welcome 200 workmen in its expanded factory.
The company had posted ‘exceptional’ growth in its annual sales which surged to ₹497 crore in FY22 from ₹168 crore FY08. In FY23, it achieved sales of ₹657 crore.
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