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Future Group to invest Rs 140 crore in mega food park in Tumkur’s Sira
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Saturday, 20 September, 2014, 08 : 00 AM [IST]
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Nandita Vijay, Bengaluru
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fiogf49gjkf0d Future Group would open a 110-acre world-class food processing and cold storage unit at Sira taluk in Karnataka’s Tumkur district. It has invested Rs 140 crore, and the facility would require another Rs 120 crore funding before it is fully commissioned. The park would be inaugurated by prime minister Narendra Modi on September 24, 2014.
While the state government has allocated land under the Karnataka Industrial Area Development Board (KIADB), the Centre has provided assistance of Rs 50 crore. The park, which would be driven by Future Group chief Kishore Biyani, is located at National Highway 4 and Chennai-Bangalore-Mumbai Industrial Corridor.
It would be equipped with a manufacturing centre for 60 medium-sized food processing units that make ready-to-eat products. In addition, there would also be in-house pulping, milling, flouring, spice and dal units and it would have an 80,000sq ft cold store to supply fruit and vegetables round the year.
The initiative comes under the Integrated Food Park Private Ltd. (IFPPL), which is a public-private partnership programme, approved by the Ministry of Food Processing Industries (MoFPI) to set up mega food parks in Karnataka. The scheme is a cluster-based approach, involving entrepreneurs to provide infrastructure facilities for food processing along the value chain, from the farm to the market.
“The infrastructure is usually set up near the farms to streamline the logistics,” stated sources. The key objective is to prevail over systemic gaps in agri-infrastructure development, so as to facilitate better food processing in the area in which it is located.
The primary catchment area is defined as all the districts in Karnataka that fall in the radius of approximately 200km from the IFPPL site. It would take 4-5 hours for a truck to reach the park, thus retaining the freshness of perishable produce.
“The secondary catchment area would, thus, primarily provide a base for the procurement of non-perishable produce, such as cereals, pulses, spices and others, while a small quantity of fruit and vegetables would be procured from this region on a case-to-case basis,” officials informed.
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