Agribusiness

IIFCO to set up dairy venture with foreign firms

Indian Farmers Fertiliser Co-Operative Limited (IFFCO) which is one of the world’s largest farmers cooperative has said that it is negotiating with two global players for setting up an integrated dairy plant in its upcoming food processing special economic zone (SEZ) in Nellore,Andhra Pradesh.

IFFCO is also said to be in talks with a Russian company for setting up a fertiliser plant there. Managing Director U. S. Awasthi said in a statement to the media that IFFCO is currently negotiating with a dairy firm from the U.S. and New Zealand for setting up an integrated dairy in IFFCO’s farm-based food processing SEZ in Nellore.IFFCo Dairy India

The proposed dairy plant would require an investment of Rs. 1,000 crore and the overseas firm would be a management partner in the venture, he said, adding that marketing of diary products will be done by IFFCO. The venture is expected to have around 6,000 livestock, which would be imported to begin with and later cross breed with local Indian cattle breeds.

Abhay N

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Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.

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