30 May 2019
Punjab Chief Minister Capt. Amrinder Singh laid the foundation stone of a food processing plant belonging to CN IFFCO Pvt. Ltd., a joint Venture between India’s leading cooperative, the Indian Farmers Fertiliser Cooperative Ltd. (IFFCO) and Spain’s leading food processing company: Congelados de Navarra (CN Corp). at Samrala in Ludhiana, Punjab. Invest Punjab is facilitating the project in Punjab. The project will be benefiting over 10,000 farmers of the region. The plant would provide direct and indirect employment to almost 2,500 people.
The plant is to be built with an initial investment of ₹ 550 Crore would commence production within 2 years and spread over an area of 55 acres. The plant would have a processing capacity of 80,000 MT/annum and will produce individual quick-freezing vegetables, French fries and potato snacks. The raw vegetables required for the plant would be procured locally (within a radius of 150 Kilometers from the plant) thereby benefiting farmers of the region.
Speaking at the event Mr. B.S Nakai, Chairman IFFCO said, “Food processing is the need of the hour it would not only add value to the farmers produce but will also help in reducing food wastage.”. He went on to say that “This project will bring all the stakeholders in the Agro-economic ecosystem: universities research centers, seed growers, machinery producers, cold storages, transport etc. to create a synergized win-win model for all.
Dr. U.S Awasthi, Managing Director, IFFCO said,” CN IFFCO Pvt. Ltd. is a part of the larger vision of IFFCO to improve the Agriculture ecosystem in the country by providing solutions to farmers at every step from providing high quality inputs like seeds, fertilisers and agro-chemicals to improving the supply chain and providing farmers access to markets”.
This new factory is much more than a financial investment for CN, since we also invest in people. With our commitment, training and job security, CN has awakened a new expectation in the people of the region. The economy will grow and will bring a better life to people. Our goal is to improve the quality of life of people.