The new plant will be used for the operation of manufacturing and storage of tea.
Tata Global Beverages (TGBL) is planning to invest Rs 100 crore for setting up a tea packaging unit at Tata Steel Special Economic Zone in Odisha.
TGBL said, "The company has entered into a letter of Intent (LOI) with Tata Steel Special Economic Zone Ltd, a wholly-owned subsidiary of Tata Steel Ltd, for setting up a tea packaging unit in Gopalpur Industrial Park, Odisha."
The two companies estimate an aggregate investment of around Rs 100 crore over a period of time for setting up this new unit.
The facility will have the capacity to produce 36 million kgs per annum. It is expected to be operational by 2020 after obtaining all statutory and regulatory clearances.
The new plant will be used for the operation of manufacturing and storage of tea. It will also be used as warehouse of all products of the company, including its subsidiaries, associates and joint-venture companies.