Field Fresh, Del Monte Pacific To Invest $20m In Indian Food Market
Plans to produce food and beverage products in Hosur green field plant by 2010
Field Fresh Foods, a joint venture company between Bharti Enterprises and Del Monte Pacific, has planned to invest $20m in partnership with Del Monte Pacific to construct a green field plant near Hosur. The facility would produce food and beverage products to be marketed in the India, as reported by foodbizdaily. The plant is expected to commence operations by 2010.
Previously, Del Monte Pacific and Bharti Enterprises through its subsidiary Field Fresh Foods signed a joint venture agreement to provide the Indian and the International markets with fresh and processed fruits and vegetables.
Rakesh Bharti Mittal, vice chairman and managing director of Bharti Enterprises, said: “We are delighted to bring Del Monte to India. Our plan to bring in significant investment to set up a modern production facility underlines our commitment to the development of the processed foods sector in India and our intent to emerge as a leading player.”
Sanjay Nandrajog, chief executive officer of Field Fresh Foods, said: “Besides establishing a strong retail presence, we plan to leverage growth avenues in the B2B segment.”
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