Andrew Yule & Company is expecting to make up for the losses caused by the shutdown in Darjeeling, which has severely affected tea production in the hills.
"The Darjeeling shutdown has caused loss for the company. The estimated losses this financial year owing to this will be around Rs two crore in revenue", CMD of Andrew Yule, Debasis Jana, told reporters after the company's annual general meeting here today.
Jana, however, said the company has only one tea garden in Darjeeling, namely NIM, and so the shutdown would not have any huge impact.
This year, he said, tea prices were up by nearly Rs 10 per kg than last year. "This will help us to cover the loss."
The PSU, under the heavy industries ministry, is contemplating setting up a bought leaf factory in Assam's Sibsagar district at a cost Rs 12 crore, with an annual capacity of one million kg, he said.
This would be followed by another similar project at Dooars region in West Bengal, involving similar investment.
Jana said the company's electrical division had done extremely well during the last fiscal.
Regarding its subsidiary Hooghly Printing, he said plans were afoot to set up a factory near Thakurpukur.
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