Without directly referring to the investment in the plant, the company had earlier announced its plans to set up an around Rs 40 crore ready-to-fry snack pellet facility.
In the company's recent annual general meeting, shareholders were informed the Jaipur facility would see trial production during the last quarter of the current financial year. The facility is coming up on a piece of leased land.
Also Read
"Though there was some initial delay, work is now in full swing and the project would be completed by the end of Q3 and the production would commence during the following quarter of the current year. The new plant will have the capability to produce differentiated and value-added products," according to the company's annual report.
The company was also in the process of setting up a sales and distribution network for handling the enhanced production output. In view of the above developments and initiatives, the outlook for the company as a whole for 2014-15 appears promising, stated the report.
In 2013-14, the company was sanctioned a term loan of Rs 20 crore by the Common Wealth Bank of Australia which would be secured by creating a charge on the assets of the company. The loan would be utilised to part finance the capital expenditure relating to the Jaipur foods project. It is also planning to set up a pilot plant for R&D activities at Hosakote for developing new and innovative products.