Business   

Malaxmi plans food processing park

Special Correspondent

To invest Rs. 1,000 crore in coastal Andhra Pradesh

VIJAYAWADA: Malaxmi-Navabharat Ferro Alloys Ventures Pvt. Ltd. (Malaxmi NBFA) proposes to set up a Rs. 1,000-crore food processing park in 1,000 acres in coastal Andhra Pradesh utilising the vast untapped agricultural potential of the region.

Addressing a press conference here on Saturday, Vice-Chairman and Managing Director of the company, Y. Harish Chandra Prasad, said an international consultant would identify the exact location for the park. Ideally, it should be closer to a major port and an airport. It would have facilities such as cold storages, water treatment plants, testing laboratories and individual food-processing units.

The Malaxmi-NBFA Ventures proposed to use the conducive atmosphere created by the State Government to make forays into new areas. The group would work as an investment vehicle for infrastructure projects. It would negotiate with strategic partners from Thailand, Hong-Kong, Malaysia and East Europe and bring them to India for setting up units.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

SEBI modifies disclosure norms for listed companies
Corp. Bank to work for `double bottom line'
Portal on rural marketing
Malaxmi plans food processing park

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu