Comments
International Finance Corporation (IFC) will invest up to Rs 93 crore in Pune-based Parag Milk Foods for the latter’s expansion activities.
The maker of Go Cheese and Gowardhan ghee, which plans to expand its facilities at Manchar in Maharashtra and Palamaner in Andhra Pradesh, will spend close to Rs 179 crore on these projects. Last September, the company had already got about Rs 76 crore private equity funding from IDFC.
In a statement, Devendra Shah, Chairman, Parag Milk Foods, said: “We are planning to strengthen our operations by focusing on plant automation, expanding our procurement and distribution network and also, increasing focus on manufacturing more value added products like whey protein and UHT milk.”
Established in 1992, Parag Milk Foods produces milk and value-added products such as cheese, butter, ghee (clarified butter), paneer (cottage cheese), yoghurt, curd, lassi, flavoured milk, dairy whitener and milk powder.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.