Srinivasa Group, a prominent name in the poultry industry, is planning to invest ₹300 crore over the next 3-5 years on setting up new facilities in different parts of the country, starting with one each in Telangana and Andhra Pradesh. It also plans to foray into retail.
A poultry processing plant being set by the Group in Narsapur, near Hyderabad, will be ready for commissioning soon, vice chairman and managing director Suresh Chitturi told presspersons here on Saturday.
The Group, which besides poultry breeding operates in goat breeding, agriculture, poultry, animal feed, realty and food retailing, has collaborated with Malaxmi Group for a mega food park in Prakasam district of Andhra Pradesh.
Egg powder
A egg powder plant and facility for value added products are to be set by the Group in the food park, he said, adding much of the investment proposed would be met through internal accruals.
Earlier, Mr. Chitturi and President of Hy-Line International Jonathan Cade, announced a partnership under which Srinivasa Group will distribute the Hy-Line commercial layers across the country.
The two entities would also be forming a joint venture in a few weeks, Mr. Chitturi said. To a query, he added, Srinivasa Group was not in need of funds immediately but since it may require after about a year it was in discussion with investment bankers. On the partnership, Mr.Cade said it has enormous potential of making use of the genetically superior Hy-Line layers to feed the growing population of India with an inexpensive source of animal protein.
