Texmaco plans food park at Sankrail

K K Birla promoted Texmaco will set up a food park at Sankrail in West Bengal with a joint venture partner.

Saroj Poddar, executive vice chairman, Texmaco said, the company has unutilized land of around 140 acres, which would be used for the food park.

"We will get food processing companies to set up their units in the park," Poddar said while speaking on the sidelines of the company's annual general meeting.

The investment is likely to be in the region of Rs 1,000 crore. The joint venture would have equal partnership.

Plot is owned by Texmaco and one of its wholly owned subsidiaries.

In an intimation to the stock exchanges the company has informed that the board of the company has approved a proposal for setting up a food park in Howrah, West Bengal in joint venture with LMJ International.

LMJ International is a four star export house, engaged in export of tea, coffee, rice, spices, jute, shellac and guargum to destinations across the world.

Another issue relating to Birla Mills' land in Delhi was awaiting decision of the Supreme Court of India. The company was expecting decision in the case in the near future and the development plans of the property would be undertaken thereafter.

Earlier, responding to shareholders, Poddar said, the Birla Mill land was spread over 21.5 acres.