KOLKATA based Keventer Group will start the development of mega food park at Bhagalpur from November in collaboration with the Future Group at an initial investment of Rs 160 crore.
“We have prepared a detailed project report after getting formal approval from the government. We are hoping to start construction in November,” Jalan said.
At the Bhagalpur food park, Keventer will hold a 51 per cent stake, Future Group will have 36 per cent, Bihar-based entrepreneur Satyajit Kumar Singh will have 6 per cent and farmers will hold the remaining 6 per cent stake, he informed.
The food park, spread over 125 acres, will have 38 small and medium-size processing units.
The government has decided to establish 15 mega food parks across the country to give a boost to the food processing industry.
Keventer will also set up a Rs 200 crore maize processing unit in collaboration with Keenan Technologies of Ireland at the food park.
“We will cater to the needs of over 20,000 farmers in Bihar through this food park,” Jalan said.
The company is also setting up manufacturing units in Orissa, where it would be a stakeholder.
About 40 per cent of the fruit and vegetables grown in the country go waste every year due to the lack of proper storage and transport facilities.
The Food Processing Ministry aims to increase processing of perishables to 20 per cent from the existing 6 per cent of the country’s agricultural output, as well as ramp up value addition activities to cover 35 per cent of the total produce, up from 20 per cent at present.
It also plans to double the country’s share of global processed food trade to 3 per cent by 2015.