ITC building cigarette plant in Nepal

Kathmandu, Jan 27 (IANS) As Nepal's southern plains, where the factories of most major Indian joint ventures are located, continue to be racked by violence and strikes, Indian tobacco major ITC Ltd is seeking to safeguard the operations of its subsidiary by building a second manufacturing plant in the hilly west.
Surya Nepal Pvt Ltd -- in which ITC holds 69 percent stake, British American Tobacco (Investment) Ltd 2 percent and the rest belong to 20 Nepali individuals and corporates -- is making an initial investment of NRS 24 crore to start a new manufacturing plant in Tanahun district, reports said.
Surya Nepal, Nepal's largest private-sector enterprise with a turnover of over $100 million, started operations in 1986 with a single tobacco manufacturing factory in Simara town in Bara district on the India-Nepal border. Continued