Basmati rice processor LT Foods plans to invest around Rs 70 crore to foray into non-basmati and bio-gas generation segments next year. It has basmati processing plants in Punjab, Haryana and Madhya Pradesh. It is in the process of acquiring 50 acres of land in Punjab to set up non-basmati processing and bio-gas generation plants at a single location. The land acquisition is likely to be completed in the next three months and the plants might go on stream by next September.
The rice plant will have 25 tonnes per hour processing capacity and the bio-gas plant, using husks as raw material, will have five MW power generation capacity. In the current fiscal the company’s turnover is likely to increase to around Rs 1,200 crore from Rs 708.63 crore in last fiscal. The company, which sells its products under the “Daawat” brand name, generates around 50 per cent of its turnover from India, 30 per cent from West Asia, Africa and the rest 20 per cent from the US.
Company Name | CMP |
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Nestle | 2489.25 |
Britannia Inds | 5127.25 |
Varun Beverages | 1490.20 |
Marico | 599.30 |
Hatsun Agro Product | 1013.95 |
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