The Orissa based Seashore group of companies has evinced interest to set up an integrated spice and dairy processing unit along with a 20 Mw solar power plant.
The company has already made a presentation before the Industrial Promotion and Investment Corporation of Orissa Ltd (Ipicol) on the project and is likely to submit the detailed proposal soon, sources said.
The project would entail an expenditure of Rs 506 crore. While the spice processing unit would cost Rs 66 crore, the investment in the dairy processing unit is pegged at Rs 140 crore. Besides, Rs 300 crore is proposed to be spent on the 20 Mw solar power plant.
“The food processing sector has vast scope for employment apart from benefiting a large number of farmers. The company has been asked to submit detailed proposal”, Suresh Chandra Patnaik, chairman-managing director (CMD), Ipicol told Business Standard.
Sources said, Ipicol has asked the Seashore group to submit a separate application for the 20 Mw solar power plant. Similarly, it has to submit a joint proposal for spice processing and milk production and processing units.
The company has also been asked to submit a milestone chart giving the time schedule for completion of different projects.
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Before the finalisation of the detailed project report (DPR), the company should seek the expert opinion of the Spice Board. Further, during the preparation of the DPR, the primary processing centre and establishment of backward linkages in turmeric growing areas of Kandhamal need to be explored.
It may be noted, companies like Britannia, Parle Ago and ITC Agro have already evinced interest to set up food processing units in the state.
Sources said, Orissa ranks fourth among the vegetable producing states in the country with coconut and cashew being two major produces along the state’s long coast line. Un3er Industrial Policy Resolution (IPR), 2007, agro-processing sector has been declared as a ‘thrust sector’.
Due to the proactive measures of the government, 9476 Micro, Small and Medium Enterprises (MSMEs) in the food and allied sector have been set up in the state with an aggregate investment of Rs 321 crore, employing 66,803 persons.
Meanwhile, to provide remunerative prices to the farmers for their produce and to facilitate marketing of the surplus produce, the state government is in the process of finalising the Orissa Food Processing Policy 2009.
The proposed policy aims to raise the level of processing of vegetables, fruits and other food items in the state from 0.7 percent at present to 10 percent by 2015.