Britannia Industries to set up Agro-Processing Unit in AP
FMCG major Britannia Industries is planning to set up an agro-processing facility in Andhra Pradesh with an investment of Rs 125 crore in the first phase. The company is planning the unit to increase its presence in southern cities like Bengaluru and Chennai.
Vijayawada: FMCG major Britannia Industries is planning to set up an agro-processing facility in Andhra Pradesh with an investment of Rs 125 crore in the first phase. The company is planning the unit to increase its presence in southern cities like Bengaluru and Chennai.
Britannia Managing Director Varun Berry called on Chief Minister N Chandrababu Naidu here and said the company is planning to commission the first phase of the project by the end of 2016. "We want to zero in on a location which helps us serve markets in Chennai and Bengaluru," a state government release quoted Berry as having told Naidu.
In response, Naidu said they can finalise Chittoor district which allows the company to serve Chennai and Bengaluru markets. During the meeting, Naidu explained the advantages and opportunities in Andhra Pradesh.
"We are focusing on agriculture and allied activities like horticulture, livestock, fisheries, dairy and poultry whose estimated growth rate for 2015-16 is 24 per cent with Rs 1.87 lakh-crore against 1.43 lakh-crore in 2014-15," the Chief Minister said, adding that the company can also explore options in the dairy sector.
In Andhra Pradesh, Naidu said, the government is working to strengthen the Self-Help Groups (SHGs). "To improve dairy production, we are giving back-end subsidy on fodder cultivation. SHG women will measure the yield from each animal and the fodder cultivation will be planned according to the yield," he added.
Andhra Pradesh has an advantage in the fisheries sector, the Chief Minister said highlighting that the state stands at the top in shrimp production and wants to lead in exports of sea-food. "Our long coast on the East, abundant water and 14 ports give us the opportunity of being the logistics hub of South East Asia," he said.