Lotte commissions new plant, mulls entry into hotel segment

Chennai, July 21 (IANS) South Korean confectionery major Lotte group is looking at diversifying into the Indian hospitality and retail sectors.

Dong Bin Shin, vice chairman of the group, disclosed this Wednesday during the commissioning of the group’s new production facility near here.

The $70 million new plant has the capacity to make 180,000 cartons of Lotte Cocopie to cater to the domestic as well as the Middle East and African markets.

‘The new plant will enable Lotte to capture five percent market share in biscuits by next year,’ said Dong.

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