Himachal firm plans agro-food unit in Gujarat
January 15th, 2009 - 4:17 pm ICT by IANSShimla, Jan 15 (IANS) Himalaya International Ltd (HIL), a Himachal Pradesh-based frozen food manufacturer, will invest Rs.1.4 billion (Rs.140 crore) to set up an export-oriented unit in Gujarat, a company official said Thursday.”We will invest Rs.140 crore for establishing an export-oriented agro-food processing facility in Gujarat. The project will be funded through internal accruals, warrants and borrowings from banks,” HIL managing director Man Mohan Malik told IANS.
“We have signed an understanding with the Gujarat Agro Industries Corp. The state government is providing us 100 acres in Mehsana district,” he added.
The Gujarat facility will produce ready-to-eat products like frozen mushroom, mozzarella sticks, cheese and appetizers. “From this unit, we plan to export to Western markets,” Malik said.
HIL posted a turnover of Rs.46 crore (Rs.460 million) in the last financial year.
The company is also planning to sign an agreement with the Gujarat Tribal Development Department for starting contract farming.
“We will provide technical knowhow to farmers to cultivate Spanish onions, jalapeno and seedless eggplants, which the company will buy back for processing frozen food and appetisers,” he said.
The facility, which is expected to start commercial production by next year, will generate employment for nearly 2,000 people, Malik said.
- Himalya International plant starts production - Apr 26, 2012
- Himachal firm to invest Rs.130 crore in Gujarat - Aug 11, 2009
- Himalya to invest Rs.110 crore in Rajasthan - Oct 26, 2009
- Himalya net profit rises to Rs.8.78 crore - Oct 30, 2009
- Vadilal's ready-to-eat snacks in markets soon - Sep 26, 2011
- Dabur to set up plant in Sri Lanka - Sep 27, 2011
- Keventer to start production in Gujarat plant from December - Nov 10, 2008
- Maruti Suzuki to buy land in Gujarat for unit - Oct 29, 2011
- 'Karnataka SEZ changing socio-economic landscape' - Oct 24, 2010
- Six Canadian MPs for Vibrant Gujarat summit - Dec 25, 2010
- Karnataka farmers to protest against agri-summit - Dec 01, 2011
- Maruti Suzuki quarterly net profit declines 59.81 percent - Oct 29, 2011
- NRIs to woo foreign investors to Haryana - Mar 31, 2011
- India, Italy eye euro 15 bn trade volume, tie-ups - Oct 31, 2011
- Canada becomes first western nation to partner 'Vibrant Gujarat' - Jul 22, 2010
Tags: accruals, agro industries, borrowings, contract farming, crore, eggplants, export oriented unit, food processing, food unit, frozen food manufacturer, gujarat, himachal pradesh, himalaya, malik, man mohan, shimla, spanish onions, technical knowhow, tribal development, western markets