Thai conglomerate Charoen Pokphand targets to double annual turnover in its Indian operations by investing US$500 million over the next five years.
It said investments will include new poultry farms and feed mills that will hopefully contribute to a yearly turnover of up to $1.2 billion.
Poultry feed mills are planned to be set up in Maharashtra, Punjab, Haryana and West Bengal, which would double CP India's feed operations as well as double production capacity to 300,000 tonnes a month in the next five years.
CP India's senior vice president, Sanjeev Pant, said 30% of the $500-million investment would be company-funded and the rest sourced from bank loans.
Charoen Pokphand is Thailand's largest meat and animal feed producer and one of Asia's largest conglomerates. It is also the world's biggest shrimp farmer.