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Lotte Confectionery to invest $56.6 M in new ice cream factory in India

New ice cream factory expected to generate around 1,000 jobs

South Korean firm Lotte Confectionery is investing 70 billion won ($56.6 million) in its ice cream making affiliate in India, Havmor Ice Cream, over the next five years as the confectionery maker plans to strengthen its rapidly growing Indian business.

Lotte Confectionery will build a new 60,000-square-metre ice cream factory in Pune. The envisioned factory will be the first for Havmor Ice Cream in India, after the South Korean confectionery maker acquired the company in 2017 for 167.2 billion won.

Harvmor Ice Cream operates 216 stores in India and distributes two ice cream brands made by Lotte Confectionery — Snow Ice and World Cone.

The Pune factory will become the third manufacturing plant for Lotte Confectionery in India. Last year, Lotte Confectionery merged with Lotte Foods, a food and dairy products maker of Lotte Group, to improve profitability and streamline overlapping business areas.

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