Two firms keen on investing in MP

Two firms have come forward to invest in the food-processing sector in Madhya Pradesh. Big India Farms Pvt Ltd and GV Group have shown interest to invest in the food processing sector for a combined investment of Rs 140 crore, a senior government official told Business Standard adding that "both the companies will generate at least 400 direct and indirect jobs".

Big India plans to enter into supply chain, contract farming, research center and setting up of food-processing units with an investment of Rs 120 crore while the UK-based GV Group Ltd has plans to set up a food-processing unit to manufacture snacks in Mandideep Industrial Area.

Speaking to Business Standard a senior government official said, "Two companies have come forward to set up their shops in Pipariya and another has planned to invest in Mandideep. Big India has acquired 25 acres in Pipariya town of district Hoshangabad while GV group has evinced interest in Mandideep. The state government will extend all support to these companies in terms of concessions and sops in accordance with the industrial promotion policy once they come up with detailed plans."

If Big India comes, it will be the first mega investment in Hoshangabad district in food-processing sector, said the official.

Six companies had shown interest in food parks, food processing and other related sectors but only a few of them turned up this year.

According to the government official, Ruchi Soya group was the only company which has aggressively pursued its case to set up a processing unit in Adampur near Bhopal, while other companies that had planned investments in the food-processing sector in Borgaon (Chhindwara district) have shelved their plans.

The state, which has six food parks, has attracted a thin investment in these food parks since their inception in 1999. Although state industries department has provided facilities like warehouses, chilling units and water supply in the food parks, investors are still shying off them.