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Bangladesh-based PRAN Group to set up food processing plants in India
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Wednesday, 25 March, 2009, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Bangladesh-based PRAN (Programme for Rural Advancement Nationally) Group, a leading food processing firm, will be setting up food processing and agro-processing plants in Tripura, Orissa and Tamil Nadu. AAK Chowdhury, CEO, PRAN Group, said that the company would begin food processing and agro-processing plants with an investment of about $5 million in Agartala district. Chowdhury said, "PRAN has also sought approval from a bank in Bangladesh to invest in India. Agartala plant is now in its advanced stage."
"The company would seek loan from Indian financial institutions to set up their projects in Tripura, Orissa and Tamil Nadu. The company had also secured a $150 million loan from the International Finance Corp (IFC) to expand its trade and business. The loan will support the PRAN Group's strategic investment plan over the next three years," Chowdhury added. According to a news report, the state government has allotted about 10 acres to PRAN group at Bodhjung Nagar in west Tripura to set up the unit.
The minister for Tripura Industry and Commerce, J Chowdhury, said, "We shall provide all kind of logistical help to commission the proposed industrial unit and it would earn foreign investment besides generating employment"
Starting its venture in 1980, PRAN manufactures products in six food categories - snacks, confectionary, juice, beverage, culinary products, dairy and premium rice.
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