|Amul to invest in Sri Lanka
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|Author:||RH [ Sun Mar 20, 2005 6:17 pm ]|
|Post subject:||Amul to invest in Sri Lanka|
Amul to invest in Sri Lanka
Source: Press Trust of India / New Delhi March 20, 2005
Amul, the most successful co-operative movement in India, is moving across borders to Pakistan and Sri Lanka.
The brand, owned by Gujarat Co-operative Milk Marketing Federation (GCMMF), is close to finalising a Rs 10 crore investment deal for setting up a dairy plant in Sri Lanka.
GCMMF has announced plans to invest Rs 10 crore in Sri Lanka for developing a dairy plant with production capacity of two lakh litres of milk per day.
Khanna said the project failed to take-off after announcements made last year due to the fluid political situation in the island country. Besides, the devastation caused by the Tsunami further acted as an impediment.
"Now, things look favourable and once Sri Lankan government gives us a go ahead, we would begin setting up the plant there," Khanna said.
GCMMF plans to set up a dairy plant initially for liquid milk before going for other products in Sri Lanka.
The co-operative is also actively pursuing exports to tap the huge market of Indians living abroad. Total export earnings of the co-operative in the current fiscal is expected to grow to Rs 100 crore.
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