Creamline Dairy Products Limited (CDPL), subsidiary of Godrej Agrovet Limited, will invest Rs 400 crore for expansion and Marketing plans in the next 3 years.
“Currently, we have nine milk processing plants in the both telugu states of Andhra Pradesh and Telangana and one more plant which was established with a capacity of one lakh in Visakhapatnam (Andhra Pradesh), will come into operations likely by January, 2019,” said Creamline Dairy Managing Director Bhasker Reddy at the sidelines of the launching of Jersey Thickshakes here on Wednesday.
Jersey Thickshakes are manufactured at Creamline Dairy Private Limited State-of-the-art plat near here.
“We are planning to invest Rs 400 crores in the next 3 years for setting up of three plants – one each at Tamil Naidu, Karnataka and Maharashtra — and once the plants were established, the milk processing capacity will be enhanced to 15 lakh ltrs per day from the current 12 lakh ltrs capacity of the total plants.
“We have already acquired one milk processing unit Tamil naidu, he said with over 100 collection centres, CDPL has a strong distribution network in Telangana, Andhra Pradesh, Tamil Nadu, Karnataka and parts of Maharastra.”
To a question, Mr Reddy said at present there is no IPO but may be after three-years.
To another question, he said the milk prices may go up over one rupee likely in the mid of next year.
Godrej Agrovet, the largest animal feed manufacturing company in the country, acquired a majority stake in CDPL.