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Iffco plans Rs 1000 crore dairy biz foray

aking a leaf out of Amul’s book, Iffco, the world’s biggest fertiliser cooperative, is set to enter the dairy business with an over Rs 1,000-crore venture by the year-end.

The dairy venture, the first unit to go on stream at Iffco’s Kisan AEZ at Nellore, will showcase a state-of-the-art world class processing plant for processed dairy produce including cheese. It is likely to be a joint venture with an undisclosed Delhi-based business house and an Israeli dairy major.

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/...

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IFFCO to set up integrated dairy at Nellore

The world's largest farmers cooperative, Indian Farmers Fertiliser Co-Operative Limited (IFFCO), on Monday said it was negotiating with two global players for setting up an integrated dairy in its upcoming food processing special economic zone (SEZ) in Nellore.

Besides, IFFCO is in talks with a Russian company for setting up a fertiliser plant there, Managing Director U. S. Awasthi said.

“We are negotiating with a firm in the U.S. and New Zealand for setting up an integrated dairy in our farm-based food processing SEZ in Nellore,” Mr. Awasthi told reporters here.

The proposed dairy envisaged an investment of Rs. 1,000 crore, he said, adding that “We expect to sign the deal before end-December.”

http://www.thehindu.com/business/companies/article535179.ece

  • By srrpenna at 07/30/2010 - 22:22
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