Ending its seven-year ties with the National Dairy Development Board (NDDB), the Ongole dairy formed itself into a company to market its milk products on its own from Monday.
Hitherto marketed under the NDDB's Mother Dairy brand, the debt-free Prakasam district Milk Producers Company Limited will market its products with Ongole bull logo from now, said its jubilant Chairman Challa Srinivasa Rao after unveiling a range of milk products here on Monday.
The NDDB had taken over the Prakasam cooperative dairy and its milk powder plant at Ongole as the latter failed to repay Rs. 63 crore due to the board then. '
'The debt has been fully serviced and the now the dairy is fully equipped to increase its production'', he added.
Speaking on the occasion, Vijaya Bank regional manager A. Muralikrishna said the bank which had advanced Rs. 20 crore for purchase of 2000 milch cattle by ryots last year, was keen to advance loans to more farmers this year.
Andhra Bank Zonal Manager D.Surendra Rao said the bank was ready to provide loans to farmers not only to purchase milch animals but also personal loans to dairy employees. He stressed the need for prompt repayment to sustain the credit flow.