Mahalaxmi group to set up food processing park

Vijayawada, Apr 1 (UNI) The Mahalaxmi Group Private Limited will set up a food processing park at a cost of Rs.1,000 crore in coastal Andhra Pradesh.

Announcing this at a press conference here, its vice-chairman and managing director Y.Harish Chandra Prasad said the park would benefit the farmers to a large extent in the coastal area.

Being set up on the lines of international standards, he said water treatment, cold storage, testing lab and food processing units be there in the park. He also said the invents prepared here would help to send to the food chains in the world.

The company would also set up 1,040 mw coal based project in Orissa and an I.T park in Hyderabad. For this Mahalaxmi group would work with Nava Bharat Ferro Alloyis (NBFA) private company.

The Mahalaxmi Group would set up industries in stages at a cost of Rs.8,000 crore and funds for these will be earmarked through public issues and Foreign Direct Investments, he added.

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