McCain to invest $69 million
Plans capacity expansion of Mehsana plant as demand for frozen food grows.January 15, 2013 | comments ( 0 ) |
To cater to the growing demand of frozen snacks market, McCain Foods India Pvt. Ltd, will invest another $69 million at its potato processing plant in Mehsana. This announcement was made by Vikas Mittal, Managing Director of McCain Foods India at the Vibrant Gujarat Summit, 2013 held at Gandhinagar, Gujarat. The investments will roll in from October 2013.
The company is working with about 1,200 contract farmers over 4,000 acres in Gujarat to cultivate ‘processed quality’ potatoes in Gujarat. To meet the enhanced plant capacity, McCain Foods will be working with contracted farmers to double the acreage under potato cultivation, thereby enhancing employment opportunities in the area.
Vikas Mittal, Managing Director, McCain Foods India, said “The McCain brand is driving growth of frozen snacks in India and this growth is resulting in the need for capacity addition. The Indian frozen snacks market is on the rise as the combination of taste and convenience is rapidly increasing the retail market. We expect the pace of growth to continue and, hence, even more investment is expected in the short to medium term. For a variety of reasons, including agro-climatic conditions, a strong base of skilled farmers and infrastructure, Gujarat will continue to be our preferred destination. We look forward to the continued support of the Gujarat government in enabling us to meet our ambitions in the state.”
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