Seoul-headquartered Lotte Confectionery will invest Rs 450 crore in its Indian subsidiary Havmor Ice Cream in the next five years, marking its first big investment in the company after acquiring it in December 2017 for Rs 1,000 crore. The investment will set up a new production facility at Talegaon township of Maharashtra Industrial Development Corporation (MIDC). Havmor’s new facility will be functional in 2024 and it will generate employment for 1,000 people, said the company in a statement.
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