Haryana nod for milk drink project at Rai

Chandigarh, Mar 12 (UNI) The Haryana government has given its nod for a fermented milk drink project to be set up at an estimated cost of Rs 136 crore at the Food Park developed by Haryana State Industrial Development Corporation (HSIDC) at Rai in Sonipat district.

The project will be executed by Yakult Denone India Pvt Ltd, a joint venture of Japan based Yakult Honsha Company and Danone Probiotics Pvt Ltd, a Singapore based subsidiary of Denone Group, France.

Disclosing this here today HSIDC Managing Director Rajeev Arora said that the project, being proposed to be financed through 100 percent foreign equity by the partner companies, would be the first major foreign direct investment on the National Highway No-1 in Haryana.

He said that the turnover of the group in 2005 around Rs 96 billion. The installed capacity of the project shall be 11.44 lakh bottles of 65 ml of fermented milk drink per day which would be achieved in four phases.

The company proposed to launch its products by the beginning of next year and would likely to give a stiff competition to the existing flavoured milk and 'lassi' in the Indian market.

UNI HS VD RN1646