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South Korea's Lotte to invest Rs 450 cr in Indian unit Havmor Ice Cream

Money will be used for new production facility in Maharashtra

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2 min read Last Updated : Jan 18 2023 | 12:52 PM IST

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.