Patanjali To Invest INR 1,600 Crore To Set Up Food Park In Noida, UP
After a major food and herbal park project in Mihan area of Maharashtra and Nepal, Patanjali Ayurved is now planning to shell out INR 1,600 crore for yet another massive herbal food park in Noida, Uttar Pradesh.
“It is almost finalized now. You may see an announcement by Patanjali Ayurved for an investment of around INR 1,600 crore in Noida for setting up a food processing plant around Diwali,” a senior UP government official in the know of the development said.
Much like its Maharashtrian counterpart, the Noida-based herbal food park too will aim at creating employment opportunities for locals. “As far as investments in the state are concerned, the Uttar Pradesh government is fair and transparent for promoting industrialization, which will create jobs”, the government official added.
According to reports, when the plant runs to its full capacity, it would have a capacity to produce goods worth INR 25,000 crore annually, and around 10,000 direct jobs could be provided benefiting 50,000 families.
More On The Plant
As for the location, the FMCG magnate is zeroing down on land near the Yamuna expressway. It has further been announced that Patanjali CEO Acharya Balkrishna has held meetings with the CEO of Yamuna Expressway Industrial Development Authority (YEIDA) regarding the land acquisition.
A Patanjali Ayurved official said, “It would be an international food park, which would be for exports and domestic markets as well.”
“The state bureaucracy is also involved in this project under the instructions of the chief minister of UP. It would be a major investment boost for UP and employment generation,” he added.
“We would make the unit operational within 12-18 months of allotment of land”, the official said adding that “the food park will manufacture all major products. As it is located in the NCR region, which has proximity to the airport and dry ports, it will act as a hub.”
Besides Noida (Uttar Pradesh) and Mihan (Maharashtra), Patanjali Ayurveda is looking to expand its foothold and is in the process of setting up production units in Madhya Pradesh, Assam, Maharashtra and Jammu and Kashmir, besides another plant in the drought-hit area of Bundelkhand region of UP.
“For Bundelkhand regional plant, we are discussing for the special package and incentive with the state government. We are working on that,” the company official said.
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