INDIA - Charoen Pokphand Foods (CPF) is to invest Rs. 1,000 crore in the expansion of its operations in Andhra Pradesh.
The CPF management have decided to make fresh investments in view of the proposal to accord special category status. The new investment is expected to create direct and indirect employment to over 5,000 people and the company shortlisted the two Godavari districts, Nellore and Chittoor for making the investments, reports TheHindu.
Accordingly, the company planned to open a fish and shrimp feed mill in Yeleswaram mandal of East Godavari district with an estimated Rs. 450 crore and a similar venture in Ganapavaram mandal of West Godavari with an investment of Rs. 150 crore.
Shrimp processing plants for export were being proposed at Kadivedu and Nakkalavari Kandriga in Chillakuru mandal of Nellore district with an investment of Rs. 150 crore while chicken processing plant for local market was being planned at Diguvamsapalli in Chittoor district involving another Rs. 150 crore.
The company planned to invest an additional Rs. 100 crore for backward integration for farms and hatcheries. It had already completed procurement of land and conversion while it was hopeful of securing clearances from the authorities concerned in the coming months. It planned to commence commercial operations before the end of the next financial year, the release added.
TheFishSite News Desk