FOOD & AGRO INDUSTRY: UNPALATABLE TO INVESTORS
Article Abstract:
Investments in the food and agro industry have been hit due to sluggish capital markets. Of the 404 proposed projects in 1995, only 114 projects, involving a total investment of Rs2,444 crore, have been completed till November 1998. The delay in the execution of these projects was due to insufficient infrastructure and declining trend in overseas markets. According to a report by the Centre for Monitoring Indian Economy, as on November 30, 1998, the total number of projects being executed were 163. These projects involved a total investment of Rs5,715 crore. Of these, only 76 projects, worth Rs2,164 crore, are being executed. In the sugar sector, there are proposals to set up 53 factories entailing a total investment of Rs1,978 crore. Of these, 14 projects are being executed. Under the soft-drink bottling segment, only 2 global firms - Coca-Cola and PepsiCo - dominate. Coca-Cola Ltd is setting up 6 of the 10 proposed plants. It is investing Rs435 crore. In the edible oils segment, the total investment proposed slumped from Rs1,035 crore in 1995 to Rs22 crore in 1998. In other sectors like poultry, mushroom and food processing industries, investments have fallen by 50 percent in the last 3 years. (gs/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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AGRO DUTCH FOODS RECORDS Rs2.53-CR NET
Article Abstract:
Agro Dutch Foods, a major exporter of mushrooms, has posted a net profit of Rs2.53 crore on a turnover of Rs13.15 crore for the quarter ended December 1998. The company has expanded its installed capacity from 7650 tonnes per annum to 8577 tonnes per annum. It plans to increase its capacity every year by 5000 tonnes to have a total capacity of 30,000 tonnes by 2002. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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