Mumbai: Kolkata-based Keventer Group on Wednesday said it is developing a Food Park in Bhagalpur in Bihar, in partnership with the Future Group, at a total investment of Rs 200 crore.
“With a vision to add value to the lives of the customers, we are confident that the current Food Park in Bihar alone will cater to the needs of over 20,000 farmers there.
“We wish to cater to the needs of the small and medium farmers across India and feel that food parks will contribute to this development,” Keventer Group managing director Mayank Jalan said in a release issued here.
The partnership involves 65% investment from the Keventer Group and 35% from the Futures Group, he added.
The land for the food park, spread over 125 acres, has already been acquired and work will commence in the next 30 days.
The company will also set up a Rs 130 crore maize-based unit processing starch, glucose and dextrose on its own and a Cattle Feed Plant in collaboration with Keenan Technologies of Ireland at Kahelgaon in Bihar Mega Food Park.
Keventer Group is an agro and food processing company from West Bengal, with three separate business verticals, namely Keventer Agro Limited, Keventer Fresh and Keventer Projects with almost 40 brands under the group name.
In Bengal, the group has tied up with Carso, a French food testing laboratory, for setting up a testing laboratory.
The laboratory, formed as a 50:50 joint venture between Carso and Keventer, is to be completed by September 2011 with an investment of Rs 25 crore.