Six food processing companies, including Mrs Bector's Food (Cremica Group) and Brattle Foods Ltd have shown inclination towards setting up Punjab's first Mega Food Park (MFP).
The food park is being developed under a scheme floated by the Ministry of Food Processing Industries to create infrastructure for the sector.
“We have received applications from six companies so far, which have submitted their project proposals involving investment in the range of Rs 150-250 crore for setting up a Mega Food Park here, which will be the first ever in Punjab,” stated a senior official of Punjab Agro Industries Corporation (PAIC).
Among other companies, which have shown interest for the project are Punjab-based International Fresh Farm Products Ltd, Maninder Rice Mills, Kolkata-based LMJ Ltd and Jodhpur-based Veer Prabhu Exports.
PAIC, which is the nodal agency for agri or food processing industries in the state, would facilitate setting up of the food park by making land available at the proposed location of Goindwal Sahib in Tarn Taran district.
PAIC had also intended to become a partner of the Special Purpose Vehicle (SPV), which would be responsible for establishing, operating and maintaining the MFP.
As per the Food Franchising Report by Franchise India Holdings Ltd and CIFTI –FICCI., the size of India’s food service sector is $11 billion but organized players enjoy less than 8 per cent of the market share. There are 10 million street vendors in India, of which six million sell ready to eat food. Consumer foodservice value sales grew at a strong 20 per cent in 2007-2008 in India, second only to that of Vietnam and Indonesia.