ITC plans Rs 14,000 crore capex over 5yrs

ITC  has announced a Rs 14,000 crore investment plan over the next five years for consolidation and expansion of various businesses.

The ITC board meeting chaired by Y C Deveshwar yesterday approved the company's business plans till financial year 2,009-10 across businesses like cigarettes, hotels, paperboards, paper, packaging and agri-business, the company said in a statement.

Commenting on ITC's bullish plans, Deveshwar said in the statement: "Quite apart from the positive growth signals in the economy, the board's decision was driven by our aspiration to contribute significantly to the national effort of investment-led job creation."