Global food and agriculture company Cargill will be investing US$240M over the next five years in its Indian operation.
The added investment would be in Cargill India’s core businesses including edible oils, cocoa and chocolate, starches and sweeteners, and animal nutrition in India, The Hindu Business Line reported on 6 November.
“India is an important market for us and this increased investment demonstrates our commitment to the country and the development of its agriculture and food processing industry,” said Cargill Asia Pacific executive officer Peter Van Deursen.
The investment would provide employment to 1,300 people and help India’s farmers, the newspaper wrote.
In India, Cargill sold edible oils under such brands as Nature Fresh, Gemini, Sweekar, Leonardo Olive Oil and Rath, and the Sunflower brand of hydrogenated fats.
The investment decision followed several recent moves by Cargill in India, including opening a US$100M wet corn milling plant last year and a new dairy feed mill in Bathinda, Punjab.