IFFCO in talks with foreign firms for dairy venture at Nellore | business | Hindustan Times
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IFFCO in talks with foreign firms for dairy venture at Nellore

Indian farmers fertiliser Co-Operatives Limited (IFFCO), the world's largest fertiliser co-operative federation, is negotiating with overseas players for setting up an integrated dairy in its upcoming food-processing SEZ in Nellore, a top official said.

business Updated: Jul 26, 2010 20:23 IST

Indian farmers fertiliser Co-Operatives Limited (IFFCO), the world's largest fertiliser co-operative federation, is negotiating with overseas players for setting up an integrated dairy in its upcoming food-processing SEZ in Nellore, a top official said.

"We are negotiating with a firm in the US and New Zealand for setting up an integrated dairy in our farm-based food processing SEZ in Nellore," IFFCO Managing Director, U S Awasthi, told reporters here today.

The proposed dairy envisaged an investment of Rs 1000-crore, Awasthi said, adding, "we expect to sign the deal before end-December."

Besides equity partner, the overseas firm would also be management partner in the venture, he said adding, "the marketing will be done by the IFFCO."

The venture would have around 6,000 livestock, which will be imported to begin with, he said.

"However, later we will develop a local cross-breed," Awasthi said.