India: Mother Dairy to invest $90 million to set up processing plants

Indian dairy giant Mother Dairy has announced plans to invest 750 crore INR ($90.36 million) to enhance dairy, fruit, and vegetable processing capacity across key locations.

In a statement, the company said the investment would be used to establish a dairy plant in Nagpur, Maharashtra, with an investment of around 525 crore INR ($63.25 million), and the development of a new fruit processing plant in Karnataka.

Commenting on the move, Mother Dairy MD Manish Bandlish said: “In our endeavour to expand our distribution and reach to our consumers, we have earmarked a capital expenditure (capex) outlay of over INR 750 crore to enhance our dairy and F&V (fruits and vegetables) processing capacities across key locations”.

“In addition to these new greenfield plants, we are also strengthening our capacities in our existing facilities with an outlay of around INR 100 crore”, he added.

The new plants are scheduled to be completed within two years.

Source: Economic Times / Business Standard