Cargill invests US$240m in India
08 Nov 2017 --- Over the next five years Cargill is to plow US$240 million into its Indian operations in a heavy investment that it says will seriously contribute to improving the food safety and economic development of the country and simultaneously benefit processing and agricultural industries. The staggered investment, which is equivalent to Rs. 1500 crores, 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.
The announcement was made at the World Food India Conference by Peter Van Deursen, CEO, Cargill Asia Pacific at a signing ceremony of a Memorandum of Understanding (MOU) with India Ministry of Food Processing Industries in the presence of Honorable Union Minister of Food Processing Industries, Smt. Harsimrat Kaur Badal.
“India is an important market for us and this increased investment demonstrates our commitment to the country and the development of its agriculture and food processing industry,” said Van Deursen.
“With the growing population and changing consumer trends, Cargill is committed to nourishing the people of India in a safe, sustainable and responsible manner. The Ministry for Food Processing Industries is to be complimented for organizing an event the scale of World Food India as it lets us collaborate with partners in the public and private sectors to deliver to our customers what consumers want.”
Last year, Cargill inaugurated its first wet corn milling plant in India; set up with an investment of US$100 million.
The company also inaugurated a new dairy feed mill in Bathinda, Punjab. Cargill also opened its largest business services center in Bengaluru in 2015 employing around 2,000 people.
Cargill’s Indian ties go back 30 years
The company has a relatively long history in India, having started operations there in 1987 and now has businesses in refined oils, food ingredients, grain and oilseeds, cotton, animal nutrition, industrial specialties, and trade structured finance.
Cargill in India market-leading consumer brands of edible oils such as Nature Fresh, Gemini, Sweekar, Leonardo Olive Oil, Rath and Sunflower brand of hydrogenated fats, as well as marketing wheat flour under the Nature Fresh brand name.
Cargill’s grains and oilseeds crush business originates grains and oilseeds at 200 storage locations and the company employs more than 3,500 employees working in offices and plants, warehouses and depots.
