Tata Chemicals has drawn up plans to invest Rs 212-crore by FY12 for its foray into the wholesale business of fruits and vegetables in India through its joint venture with Irelands Total Produce.
"The 50:50 JV company, Khetse Agriproduce India, will invest almost Rs 212-crore for setting up 20 cash-and-carry distribution centres," Tata Chemicals' Managing Director, Homi R Khusrokhan, told reporters here today.
The company's collection-cum-distribution centre and cash and carry outlet have become operational in Ludhiana. The second centre will come up in Mumbai, followed by 20 more units across the country depending on acquisition of land, Khusrokhan said.
The company will collect fresh fruits and vegetables directly from farmers by paying them market price and then distribute the products through the Khetse centres.
The company also plans to invest Rs 50-crore in a biofuel facility at Nanded. The construction of the ethanol plant having capacity of 30 kilolitres per day at Nanded is progressing smoothly and the plant is expected to be operational by end-this year.
The Rs 200-crore debottlenecking of the urea plant at Babrala is progressing on schedule and is expected to be completed by the end of this calendar year, Khusrokhan said, adding that the urea capacity will be increased from 8,65,000 tonne to 1.2-million tonne.
