Cremica Group to develop food park in Himachal Pradesh
A food park is being developed by the Cremica Group – a diversified food products group in Himachal Pradesh. The outlay of the food park is approximately Rs 100 crore.
Disclosing Cremica Group’s efforts to develop the food park in Himachal Pradesh, the group’s managing director Akshay Bector said that the food park will focus on a number of things, including the processing of tomatoes.
Bector said that the Cremica Group is working to spruce up the facilities for processing tomatoes; and added that the processed tomatoes will chiefly find use in concentrations. Noting that the processing of tomatoes at the food park will involve an investment of Rs 25 crore, Bector said that the development of the food park will take approximately 18-24 months.
Pointing out that the focus of the food park will be on “creation of facilities for preservation of perishables,” Bector said that the Cremica Group is also developing a facility for ketchups and mayonnaise at Mumbai.
Meanwhile, with the group’s condiments segment likely to generate Rs 225 crore revenues this year, Bector said: “The general slowdown has affected consumption in a big way. However, we are seeing some green-shoots now. We think that it will take more than six months for the situation to come to normalcy and the consumption increase.”
Source: Financial Chronicle
