Future group eyes big slice of food business

Sets up an integrated food park in Tumkur, plans two more in West Bengal and Madhya Pradesh

September 24, 2014 12:24 am | Updated 12:24 am IST - BANGALORE:

Kishore Biyani

Kishore Biyani

Kishore Biyani-led Future group, as part of its focus on making it big in the food business, plans to set up an integrated food park each in West Bengal and Madhya Pradesh.

Interacting with presspersons at Tumkur on Tuesday, where Future Consumer Enterprises Ltd has established its first such facility, Mr. Biyani, the Group CEO, said: “We will be one of the large food FMCG companies’’ within four years.

Prime Minister Narendra Modi is scheduled to inaugurate the 110-acre India Food Park in Tumkur, entailing a phased investment of Rs.1,000 crore, on Wednesday. The facility has been created under a scheme formulated by the Ministry of Food Processing and received Rs.50 crore assistance. Much of the vegetables and fruits required for the processed foods will be sourced from the State.

By integrating the food value chain, from farm to plate, at a single location, the parks will help FCEL create a captive production capacity for its brands besides innovating to develop more products. The park, which will reduce supply chain costs and wastage across the chain, offers several common amenities and expected to play host to around 50 MSME units for food processing. It will have plants for manufacture of Indian savouries and snacks, frozen food products, dry fruits and nuts and chocolates. FCEL, which is keen on working with retailers such as Walmart and Metro Cash and Carry, is in talks with several companies for joint ventures. It has tied up with California-based Sunkist Growers to manufacture and market a range of food products.

On plans for more such parks, Mr. Biyani said talks with the Madhya Pradesh government for setting up a facility on 100 acres were expected to conclude in a fortnight. The other facility planned in Kharagpur, West Bengal, would come up on 65 acres.

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