Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF), Amul has announced an investment of Rs 1,500 crore over the next two years.
GCMMF managing director RS Sodhi said that the company would spend Rs 1,000 crore over the next two years on setting up milk processing plants. Besides, Rs 500 crore will be spent on new products such as edible oil facilities.
In an interview with PTI, Sodhi told that GCMMF expects a 12 to 15 per cent increase in revenue in the current financial year. The company had a revenue of Rs 38,550 crore in the last financial year. He said that despite the COVID-19 epidemic, we expect good growth in income as the demand for branded food products has increased.
He said the processing capacity target to increase to 420 lakh litres per day from the current 380 lakh litres per day.
Besides, Sodhi said that the company will invest about Rs 1,000 crore in the next two years on setting up dairy plants in various states. Talking about the new business, Sodhi said that Amul has started manufacturing sweet and production of bakery products.
He said that GCMMF has also ventured into the edible oil and potato processing segment. The motive behind this is to increase the income of farmers in Gujarat and other states.
He said that edible oil will be marketed under the brand new 'Janmay’ under this, groundnut oil, cottonseed oil, sunflower oil, mustard oil and soybean oil will be produced.
"We already have some plants for processing edible oil, bakery and potatoes and we will invest 400 to 500 crores in the next two years on setting up new plants,” Sodhi said.
