July 18, 2011

Venky's India plans US$24 million expansion and modernisation programme

Venky's India Ltd has decided to undertake an expansion-cum-modernisation programme at an estimated cost of INR1.07 billion (US$24 million) to augment their capacities for poultry, poultry produce, and animal health products.

Venky's plans also include the modernisation of their oilseed segment, and setting up "Venky's Xprs" fast food outlets.

Venky's (India) Ltd, which is a member of Venkateshwara Hatcheries Group established in 1971, has informed the Bombay Stock Exchange (BSE).

The expansion-cum-modernisation programme will be funded by internal accruals and long term loans, it told the BSE.