India: Amul to Invest $1.2 billion in new dairy & food plants

GCMMF, India’s biggest dairy cooperative, trading as Amul, has announced plans to invest 10,000 crore INR ($1.2 billion) in food processing over the next two to three years.

The planned investment will add up to 12 new manufacturing units, expanding production capacity in dairy, ice cream and other food products. This expansion is intended to help the company achieve a turnover milestone of INR 1 lakh crore ($11 billion) over the next few years.

Commenting on the move, GCMMF MD Jayen Mehta said: “The last two years have been spent in adding capacity across segments such as ghee, cheese, curd, ice-cream, protein and organic food products. This has allowed us to be prepared for the surge in demand that is likely with the GST rate rationalisation in food and beverages. The new investment will help us augment capacity further”.

Source: Financial Express