India-based Jaypee Group has announced an investment of INR1bn ($22m) to set
up a one million litre per day milk processing plant in the Indian state of
Uttar Pradesh.
Jaypee Group executive chairman and CEO Manoj Gaur said the capacity addition
work in the proposed plant has begun and the company expects to increase the
number of plants in North India.
"The current demand-supply mismatch in the dairy sector, which is mainly
responsible for moving the price of the everyday essential northwards, has
prompted the group to foray into the dairy business," Gaur said.
The company has already acquired 25 acres of land in Uttar Pradesh to set up
the processing plant, which will be operational within the next 18 months.
Jaypee has selected the National Capital Region in India as their main focus
of operation initially to produce and market all kind of milk and milk related
products and hopes to sell the products in others parts of North India,
gradually.
The dairy business will come under the fold of the company's agri vertical,
Jaiprakash Agri Initiatives Company (JAICO).
With around 117 million tonne production in 2010, India ranks at top in milk
production in the world. According to a report by US Department of Agriculture,
India's milk output is expected to touch 121.5 million tonne in 2011.
BY ANIMA SINHA
PGDM -2 sem
up a one million litre per day milk processing plant in the Indian state of
Uttar Pradesh.
Jaypee Group executive chairman and CEO Manoj Gaur said the capacity addition
work in the proposed plant has begun and the company expects to increase the
number of plants in North India.
"The current demand-supply mismatch in the dairy sector, which is mainly
responsible for moving the price of the everyday essential northwards, has
prompted the group to foray into the dairy business," Gaur said.
The company has already acquired 25 acres of land in Uttar Pradesh to set up
the processing plant, which will be operational within the next 18 months.
Jaypee has selected the National Capital Region in India as their main focus
of operation initially to produce and market all kind of milk and milk related
products and hopes to sell the products in others parts of North India,
gradually.
The dairy business will come under the fold of the company's agri vertical,
Jaiprakash Agri Initiatives Company (JAICO).
With around 117 million tonne production in 2010, India ranks at top in milk
production in the world. According to a report by US Department of Agriculture,
India's milk output is expected to touch 121.5 million tonne in 2011.
BY ANIMA SINHA
PGDM -2 sem
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