Indian food manufacturer MTR Foods Ltd is planning to open new plants around India, enabling it to expand its sales of ready-to-eat meals, a booming market in the country.
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Chairman and managing director Sadananda Maiya said that national demand for ready-to-eat meals was already R250m (US$5.47m), and could reach R3bn in three years.
Maiya said that MTR would open plants beyond its current Bangalore-area base. He said projected sales of all products (also including frozen foods and soups) are R1.3m in 2003-04, rising to R5bn within five years. Exports currently account for 8% of sales.
