Charoen Pokphand invests in feed and livestock projects in Punjab, India
Charoen Pokphand Food (CPF) Group will invest INR571.20 crore (US$92.1 million) to set up five modern units in Punjab, India, including a feed mill, poultry and pig farms.
A memorandum was signed between the Punjab government and the company, according to an official statement.
A spokesperson of the state government said that a delegation of Charoen Pokphand (Thailand) Company, led by its vice-chairman, Chaiyaporn Montha, called on Punjab's chief minister, Parkash Singh Badal and informed him about the company's decision to invest in Punjab. The company will set up a feed mill at a cost of INR120 crore (US$19.4 million), a hatchery at INR24 crore (US$3.9 million), a breeding farm at INR102 crore (US$16.5 million), a broiler farm at INR324 crore (US$52 million) and a swine farm INR1.2 crore (US$194,000) in the state, as stated in a release quoting Montha.
The CP Group intends to commence commercial production by 2014 and complete the proposed investment by 2018. Badal assured CPF that the government would extend full support and cooperation to the company to further establish their operations in the state. He also proposed that CP initiate some project in the field of fishery particularly in the waterlogged areas of Punjab.