Andhra Pradesh

Britannia keen on setting up facility in Chittoor

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FMCG major Britannia Industries Limited has evinced interest in setting up an agro processing facility in Chittoor district.

Britannia Managing Director Varun Berry, who met Chief Minister N. Chandrababu Naidu in Vijayawada on Monday, said that the company was planning to commission the first phase of the project with an investment of Rs. 125 crore by the end of next fiscal year.

“We want to zero in on a location that helps us cater to the needs of the markets in Chennai and Bengaluru,” Mr. Berry said.

Welcoming the initiative, the Chief Minister explained the potential of the State in agriculture and horticulture sectors.

The sector was poised to grow at 24 per cent to reach Rs. 1.87 lakh crore turnover against the Rs. 1.43 lakh crore of the present.

In this direction, Mr. Naidu said, the government had initiated several measures to strengthen the self help groups (SHGs) in addition to giving back-end subsidy on fodder cultivation. “The SHG members will measure the yield from each animal and fodder cultivation will be planned accordingly,” he said.

Advantage

The State also had an advantage in the fisheries sector in which it was leading the other States in shrimp production.

“The long coast line and 14 ports gives us the opportunity of becoming the logistics hub of south east Asia,” he said. Mr. Berry told the Chief Minister that 75 per cent of the company’s business was from biscuits and the balance was from cakes, dairy and rusk, according to an official release.





The company plans to commission the first phase of the project with an investment of Rs. 125 cr. by the end of next fiscal year



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Printable version | Jan 25, 2020 5:12:59 AM | https://www.thehindu.com/news/national/andhra-pradesh/britannia-keen-on-setting-up-facility-in-chittoor/article7626930.ece

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