Cargill to Open Corn Milling Unit in Karnataka03 October 2014
INDIA - In order to increase its presence in India, US based Cargill’s Indian arm is setting up a corn milling unit in Davenagere, Karnataka.
The new plant is expected to start operations by the end of second quarter 2014-15 fiscal year.
The company has invested $80 million for setting up the plant which have a capacity of 300,000 tonnes of modified starch for the processed food and pharmaceutical industries, predominately based in central and southern India.
Announcing this, Siraj Chaudhary, chairman, Cargill India said, the company would utilise only 50 per cent of the capacity in the first year of commencement, and use the full capacity later over three years.
The new plant would directly benefit farmers from the region and was expected to generate employment opportunities for about 390 people in the region.
A corn storage facility will also come up around the milling unit which is aimed at driving backward integration for the corn supply chain industry.
Karnataka which is the largest corn producer in the country currently has two corn milling plants in the state.
The leading maize-producing states are Tamil Nadu, Andhra Pradesh, Madhya Pradesh, Chattisgarh, Maharastra, Gujarat and Karnataka.
TheCropSite News Desk