September 29, 2014
Cargill to build US$80 million corn milling plant in Karnataka
Cargill India is setting up a US$80 million corn milling plant at Davanagere in Karnataka and the unit is expected to be operational from next year.
"It is a Rs 500 crore project spread across 44.5 acres land in Karnataka. The facility is under construction and will commence operation from September 2015," CargillIndia Director and Business Head (Grains and Oilseeds Crush) B K Anand said.
The processing plant, with an annual capacity of 300,000 tonnes, will produce modified starch for the consuming processed food and pharma industries, mostly based in central and southern India, he said.
The company aims to utilise only 50% of the capacity in the first year of commencement and use the full capacity later in three years, he added.
The company would also create a grain storage facility around the plant and focus on backward integration for the corn supply chain industry, he added.
Cargill India, a subsidiary of the US$134 billion American multinational company, is engaged in processing, refining and marketing of imported and native vegetable oils. It also supplies food ingredients to manufacturers and the food service industry, and process, store, trade and markets farm commodities.
Karnataka is the biggest corn producing state in India.