Cargill to invest $240 million in IndiaStaff Writer | November 7, 2017
Cargill, a leading food and agriculture company, announced that it is investing $240 million in India over the next 5 years.
Investment Over the next 5 years
The announcement was made at the World Food India Conference by Peter Van Deursen, chief executive officer, Cargill Asia Pacific at a signing ceremony of a Memorandum of Understanding (MOU) with India Ministry of Food Processing Industries in the presence of Union Minister of Food Processing Industries, Smt. Harsimrat Kaur Badal.
The added investment will be in Cargill's core businesses including, edible oil, cocoa and chocolates, starches and sweeteners and animal nutrition in India. In addition, it will provide employment to 1,300 people and help farmers in the country.
Last year, Cargill inaugurated its first wet corn milling plant in India; set up with an investment of $100 million.
The company also inaugurated a new dairy feed mill in Bathinda, Punjab.
Cargill also opened its largest business services centre in Bengaluru in 2015 employing around 2,000 people. ■