After Siddipet, DXN to enter Wanaparthy
Telangana Agriculture Minister S Niranjan Reddy said that the Malaysia-based DXN Company has agreed to invest Rs 250 crore to establish its second manufacturing unit in south Telangana.
Hyderabad: Telangana Agriculture Minister S Niranjan Reddy said that the Malaysia-based DXN Company has agreed to invest Rs 250 crore to establish its second manufacturing unit in south Telangana.
The minister, who is on a four-day working visit to the DXN Ganoderma farm and factory located in Kedah in Malaysia, disclosed this after a meeting with the DXN founder and CEO Dato'Dr Lim Siow Jin at a joint media conference held at the Malaysian capital Kuala Lumpur on Tuesday.
Presenting a series of initiatives rolled out by Telangana state to encourage investments, Niranjan Reddy said Chief Minister K Chandrasekhar Rao has accorded to top priority to establish food processing units in the state.
He said that he has invited the DXN to establish another unit of it at Wanaparthy in south Telangana, which is nearer to the international airport. For this, the DXN representatives have agreed to make an investment of Rs 200 crore to Rs 250 crore and a company delegation will soon visit Hyderabad for conducting the field visits.
He said the new facility would encourage different products, besides encouraging farmers cultivating the crops in demand in the international markets. Also, the food processing units will help in exporting the food products from Telangana, he said.
Earlier, DXN founder and CEO Dato'Dr Lim Siow Jin said the company had already made a multi-million ringgit manufacturing facility at Siddipet in Telangana and it will commence its operations in 2020.
Jin said that he had invited the minister on a four-day working visit to let him experience DXN's culture first hand, and for him to discern the positive impact DXN had on the locals especially in terms of socio-economic development for Kedah state in Malaysia.
He said that DXN has been operating in India since 2001 and till now it has over 1.5 million registered distributors making India an ideal location to expand its manufacturing capabilities. Dato'Dr Lim Siow Jin said Telangana, located in Southern India is the seventh highest income generating Indian state with a population of 40 million.
DXN, through its subsidiary unit, DXN Manufacturing India Pte Ltd has an investment of US24 million to purchase a 50-acre of land in Siddpeet to facilitate the construction of a 2,70,000 sqft GMP (good manufacturing practices) factory for the production of coffee, beverages, household and cosmetic products, toiletry and ayurvedic herbs, for the local and international consumer market.
He said that the Siddipet facility to be double the size of its factory facility in Kedah, Malaysia and DXN farm, which is, already considered as one of the largest Gandoderma farms in South East Asia.
He said that DXN is already in talks with the India government to acquire another 50 acres of land to further expand its spirulina production. The group currently has factories in China, Indonesia, Mexico and India producing a wide range of products for its members.
DXN is an internationally renowned direct selling company focused on producing and marketing health food supplements to its 8 million globally registered distributors across 180 countries and 70 branches. It was ranked 22 in the global MLM rankings by the Direct Selling News Global (DSN) for the year 2017, he added.
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