CG Foods to further spread its wings in Sikkim

CG Foods, one of the leading noodles & snacks companies in eastern India, set up by Singapore-based Cinnovation Group, has announced an investment of Rs100 crore in its core selection of noodles and snacks over the next three years.

The company will continue to invest in brands and distribution capabilities while accelerating investment in capacities to provide consumers a wide product range, from popularly positioned product - Wai Wai noodles. In addition to investment in its core food product sector, the company is on a look out for an acquisition opportunity in the FMCG space for inorganic growth and strengthening distribution of the current businesses primarily in south and west market.

CG Foods is expanding its facility by setting up a state-of-the-art manufacturing unit in Rudrapur in addition to its already two functional manufacturing plants in Assam and Sikkim with a combined capacity of 270 million packs. The new facility opening is aimed at bolstering further growth in one of the world's largest and fastest growing food and beverage markets. The current plan foresees a further acceleration in 2011 and beyond, foraying into the western part of the country and capacity expansion in Assam.

Spread over an area of 3 acres, the new plant will have a production capacity of 120 million packs, thus accelerating the production of its star product Wai Wai to a new high. With an initial investment of Rs 20 crore, the Rudrapur facility will add a new dimension to the growth strategy of CG foods in north India. The new investment is expected to directly generate approx 500 new jobs in and around the manufacturing plant's operation. Sikkim and Assam's unit employ about 1,500 people. Consumers in north India will now be able to consume an array of locally-produced CG Foods products - Wai Wai, MIMI and Wai Wai Xpress.