Park to be promoted by Smart Agro Industries Corporation (SAIC) floated by three NRIs

A mega food park with an estimated investment of Rs.120 crore is coming up under the private sector in an extent of 100 acres in Nandipet mandal, 20 km from the district headquarter town.

This could be the first food park in Telangana State and is being promoted by Smart Agro Industries Corporation (SAIC) Pvt. Ltd. floated by three NRIs, Pagilla Malla Reddy, Patalolla Mohan Reddy and Ramesh Kambham. If all goes well the construction work will begin in August.

Disclosing this at a press conference here on Thursday, Dr. Mohan Reddy said that a detailed project report (DPR) consisting of the technical, commercial, financial and management aspects was already submitted to the Ministry of Food Processing Industries, Government of India, and permission is awaited.

3,500 new jobs

The promoters of the venture will pool in Rs.70 crore, while the rest could be a grant from the Central Government for the park aimed at generating sustainable and better product prices for local farmers through value addition and backward integration. Once the project comes up on a full scale it could provide jobs to about 3,500 persons. The park will comprise cold storages, warehouses, package lines, material handling infrastructure, quality assurance lab, research and development buildings and roads besides maize, soya and turmeric-based industries, milk, soya milk and oil processing units. A sheep farm has already been set up at the site, he said.

Benefits to other districts

Not only farmers from the district but also of neighbouring districts can benefit through this new venture and products manufactured in it will be marketed internally and externally. “Permission is expected to come in June and as soon as the clearance comes work will commence,” said Dr. Mohan Reddy.

Keywords: Food parkMegaNizamabad