Shree Vijay setting up aqua feed plant in Andhra

February 22nd, 2012 - 8:38 pm ICT by IANS  

Bangalore, Feb 22 (IANS) South India’s aqua feed major Shree Vijay Aqua Feeds Ltd. is setting up a Rs.80-crore automated plant with Chinese machinery at a coastal village in Andhra Pradesh for domestic and overseas markets.

“We have signed a Rs.30 crore order with Muyang group of China for installing its high-tech machinery in our upcoming plant in Andhra Pradesh to process aqua feed for fishes and shrimps,” Shree Vijay managing director B.K. Murthy told reporters here Wednesday.

Being set up at Saripalle village in West Godavari district, about 320 km from Hyderabad, the plant will have an automated extruded floating fish feed and pelleted shrimp feed with annual capacity of 180,000 tonnes to meet global demand for aqua feed.

The Bhimavaram-based company, which trades over 60,000 tonnes of acquatic feed per annum worldwide, has a 300-acre semi-intensive farm with an annual capacity to produce 1,900 tonnes of feed at the rate of 40 tonnes per working day.

“We have a license from secretariat of industrial assistance, department of industrial policy and promotion, and the Indian government to provide crisp fish food for tropical fishes,” Murthy said.

The company exports 75,000 tonnes of fish and shrimps to major markets worldwide, including the US.

The company has set an ambitious target of doubling its revenue to Rs.1,000 crore in fiscal 2014 from Rs.500 crore in fiscal 2012.

Noting that aquaculture sector was rapidly growing on rising demand worldwide, company chairman N.V.R. Mohan Rao said though fish and shrimp diets used to contain a large proportion of fish meal, escalating costs of aqua food were making people to opt for vegetable proteins.

As an integrated solution provider in feed manufacturing, grain milling and food processing, the Yangzhou-based $8-billion Muyang exports a variety of equipment to 85 countries worldwide and undertakes turnkey projects in Europe, Middle East, Asia-Pacific, South East Asia and Far East.

“As India is very important for our group’s development in the sub-continent, we will keep servicing our clients with best technology and equipment. We plan to open a manufacturing plant in India in the near future,” Muyang president Fan Tianming said on the occasion.

Related Stories

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

Posted in Business |

Subscribe