 "Usher Agro to invest in Rs 259-cr rice and pulses project in Oman")
Usher Agro Ltd, through its wholly-owned subsidiary Usher Worldwide FZE and Prime Trading Company, has formed a joint venture with Al Mada Project Management Company and Sohar Food Cluster Company LLC for setting up rice and pulses storage, processing and packaging facility at Port of Sohar, Oman.
The initial facility will be set up at a total estimated project cost of $ 40 million (about Rs 259 crore) and will contain polishing, grading, blending and packaging unit for 100,000 tonne per annum (TPA) of premium long grain rice including basmati rice and a milling unit for 100,000 TPA of pulses.
The facility will also contain 25,000 TPA of rice fortification plant under the patented technology provided by PATH - a non-profit organisation supported by Bill and Melinda Gates Foundation. Fortified rice prevents loss of iron and vitamins from rice during the milling process and is envisaged to be sold as a premium product and also supplied to the government for welfare activities in the wider MENA (Middle East and North Africa) region.
“The basmati rice products of the facility will be distributed within MENA countries whereas pulses products from the facility will be distributed in India and MENA countries. The parties expect to commence the operations of the facility by the end of FY2016,” said Usher Agro in a press release.
The initial facility will be set up at a total estimated project cost of $ 40 million (about Rs 259 crore) and will contain polishing, grading, blending and packaging unit for 100,000 tonne per annum (TPA) of premium long grain rice including basmati rice and a milling unit for 100,000 TPA of pulses.
The facility will also contain 25,000 TPA of rice fortification plant under the patented technology provided by PATH - a non-profit organisation supported by Bill and Melinda Gates Foundation. Fortified rice prevents loss of iron and vitamins from rice during the milling process and is envisaged to be sold as a premium product and also supplied to the government for welfare activities in the wider MENA (Middle East and North Africa) region.
“The basmati rice products of the facility will be distributed within MENA countries whereas pulses products from the facility will be distributed in India and MENA countries. The parties expect to commence the operations of the facility by the end of FY2016,” said Usher Agro in a press release.