Cargill is planning to make an investment of $160 million out of the $240 million it promised in the next three years for fresh acquisitions, including brands, geographical and product-line expansions.
Quoting two senior officials from the global food and agriculture major, a Business Standard report said Cargill’s total investment in India will touch almost $750 million that includes around $500 million in various facilities across the country over the years.
Marcel Smits (pictured), chairman and chief executive officer, Asia Pacific, Cargill, was quoted as saying in the report: “Discussions are on towards increasing farmers’ income and productivity. We think that Cargill’s various businesses from agricultural supply chain, food and animal nutrition could play a big role in the months to come.”
According to Cargill India President Simon George “Cargill has so far invested $80 million of the promised $240 million in India and the remaining will be done in the next 36 months in a host of initiatives.” The $80 million million investments it made includes $20 million in an aqua feed facility in Andhra Pradesh, $20 million in a state-of-the-art silo to store corn in Davangere.
Image Credit : adageindia.in