Spain-based Congelados De Navarra to set up food processing unit in Punjab at Rs 300 cr

Spain-based food processing company, Congelados De Navarra, will invest Rs 300 crore in Punjab, with the establishment of a food processing unit in Machiwaara area in Ludhiana.

Final modalities to set up the plant were recently worked out at a meeting with Chief Minister Captain Amarinder Singh.

Following the meeting, the company inked a MoU with Punjab Bureau of Industrial Promotion (PBIP) for the project, which has been facilitated by IFFCO (Indian Farmers Fertilizer Cooperative) under the Invest Punjab scheme.

The company’s Director General Berito Jimmez and Consultant Inigo Soto, along with IFFCO Chairman BS Nakai and MD US Awasthi, met the Chief Minister. During the meeting land for the project, which will generate direct employment for 400 and indirect jobs for 5000 people in the state, was finalised.

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