Himalya to invest Rs.110 crore in Rajasthan

October 26th, 2009 - 4:02 pm ICT by IANS  

Shimla, Oct 26 (IANS) Himachal Pradesh-based frozen food manufacturer Himalya International plans to invest Rs.110 crore in Rajasthan, a top official said Monday.
“Now we are going to invest Rs.110 crore in an agro-food processing facility. The unit would be set up in Rajasthan and for this the state government has allotted 32 acres in Jaipur district to the company,” Himalya chairman Manmohan Malik told IANS.

He said the facility would be set up at Keshwana Rajput, 80 km from New Delhi. It will start commercial production by next year.

“The unit will produce chocolate-coated almonds, roasted almonds, honey almonds, cereal bars and protein bars.”

Himalya is already setting up one such facility with an outlay of Rs.130 crore at Mehsana in Gujarat. At this unit, ready-to-eat products made of vegetables, frozen mushrooms, mozzarella cheese, yogurt and various dairy products will be produced.

“The Gujarat unit would be operational by September next year,” Malik said, whose company is also listed on the Bombay Stock Exchange.

“The total expected sales and gross profit from the Rajasthan unit by 2012 is Rs.250 crore and Rs.50 crore respectively.”

In Rajasthan, the company is roping in farmers for contract farming.

The company has also tied up with a New Jersey-based importer and distributor, Global Reliance Inc, for marketing its products in the US.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |