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Patanjali Ayurved planning to invest Rs 5,000 cr this fiscal

The company is looking to set up a food processing unit that can start production by March 2018 with an investment of Rs 500 crore.

business Updated: Oct 07, 2017 21:50 IST
Press Trust of India
Press Trust of India
Press Trust of India, Indore
Patanjali,Patanjali Ayurved,BJP
Patanjali manufactures a range of products from shampoos and soaps to food items.(Reuters Photo)

Patanjali Ayurved’s managing director Balkrishna said here on Saturday that the company is planning to invest Rs 5,000 crore in the country in the current financial year.

“We are exploring possibilities to set up units in Madhya Pradesh, Maharashtra, the North-East, Jammu and Kashmir, Uttar Pradesh, Rajasthan and Andhra Pradesh,” he told reporters.

If all goes well, the company’s food processing unit at Pithampur industrial area in Dhar district, 30 km from here, would be up and running by March, he said.

“Hopefully, the food processing unit will start production by March 2018 with an investment of Rs 500 crore,” he said.

The plant will produce biscuits, suji, noodles and flour. It would process 1,000 tons of wheat daily, Balkrishna added.

The BJP government in Madhya Pradesh has allotted 40 acres of land to Patanjali at the rate of Rs 25 lakh per acre, he said.

The company would also explore the possibility of processing fruits and vegetables in the state, he said.

“If the government provides us land, we will also set up a cow shelter in the state,” he said.

First Published: Oct 07, 2017 21:26 IST