The Hindu : Business : FICCI inks MoU with Sistema for agro park

Online edition of India's National Newspaper
Wednesday, Feb 16, 2005

Business

Business

FICCI inks MoU with Sistema for agro park

By Our Special Correspondent

NEW DELHI, FEB. 15. The Federation of Indian Chambers of Commerce and Industry (FICCI) and the Italy-based consortium Sistema Italia Exports today signed a memorandum of understanding to develop a world-class agro-industrial park with an investment of 900 million euro.

To be established over 1,200 acres, the park will have 50 joint venture industries having individual product refrigeration centres, EU certification, quality control, cereal and milk silos, triple security zones for total health and safety control along with a hospital.

The objective is to create a unique and competitive environment to process India's high potential agricultural products targeting quality improvements, European Union food and safety norms and higher value addition through technology and better food-chain processes.

Amit Mitra, the Secretary General of FICCI, and Giuseppe Bartolucci, President of CSIE, inked the MoU in the presence of Arun Kumar, Joint Secretary, the ministry of food processing industries, and Antonio Marzano, the Italian Minister for Production Activities.

Once developed the park, `Sistema Italia FICCI Hyper Food City-India,' is expected to serve as a point of entry of the Italian food processing industries into joint venture with Indian partners, an official release said here today.

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