Processing units in French tie ups

The food processing industry in the state got a shot in the arm with French companies throwing their technological and marketing might behind two local units here.

Ascon Agro, a company from Pailan Group of Industries and Exodus Aquatics Ltd, have tied up with two French companies to process vegetable, spices and fresh water fish and prawn respectively.

In the first phase, Ascon Agro is looking at investing about Rs 20 crore to manufacture tomato, garlic, ginger paste. Later, it is also planning to foray into goat slaughter as well.

"We have applied to the government for giving us 20 acre land in Dankuni or at a suitable space near Kolkata. This is going to be 100 per cent export oriented unit. Our produce would be entirely bought back by the French company," a company official said.

Ascon Agro plans to invest up to Rs 100 crore in phases with French company also taking up small equity in the project. Ascon has a 300 acre plot at Jhargram in Midnapur. It intends to grow different vegetables there.

On the other hand, Exodus Aquatics Ltd is planning to start its unit at Falta to process fresh water single bone fish and prawn. The capacity of the plant would be 40 tonne per day. The French company P B Conceil, which is assisting the local unit, will also market the frozen fish in the ready to cook stage to French retailers at a commission.

T K Hore, director of the company said the machinery for the unit would be imported from Iceland.

"We have also lined up credit line of Rs 33 crore from a French bank. We are awaiting final clearance from them. Total investment would be in the region of Rs 40 crore. We will pay back all debts within three-and-half year from the commencement of production," he informed.

The French connection for both projects was cemented during the ongoing visit of a delegation of French senators in Kolkata. The visit of the delegation was facilitated by Indian Chamber of Commerce and Industry (ICC).

Ascon Agro signed the memorandum of understanding (MoU) with the French company only couple of days ago. As for Exodus, senators have assured to assist the company to get clearance from the French bank.