Punjab, Reliance sign retail deal
Reliance Retail also plans to procure 9,00,000 tonnes of food grains from Punjab and set up flour milling locations.india Updated: Aug 02, 2006 10:27 IST
The Punjab government on Tuesday signed an agreement with Reliance Retail Limited (RRL) to set up retail business hubs that would benefit the state's farming community.
Punjab's financial commissioner GS Cheema and RRL chief executive officer Sanjiv Asthana signed the memorandum of understanding, under which the firm will set up 50 rural business hubs to coordinate with farmers and 250 franchises would be linked to these hubs.
Asthana said the endeavour would be to spread the procurement area to over 3,00,000 acres and to grow over 2,00,000 tonnes of horticulture produce.
Deputy Chief Minister Rajinder Kaur Bhattal, who was present on the occasion, said Punjab's farming community would benefit from the proposed retail chain.
Asthana said RRL was looking forward to associating itself with the state's agricultural university and the farmers to build a brand of good quality fresh, frozen and processed fruits and vegetables that would be sold in the retail stores.
RRL will also procure 9,00,000 tonnes of food grains from Punjab and set up flour milling locations. It will also procure pulses and other food items.