Amrit Group, based in Kolkata, India is investing app. € 44 million over the next couple of years for setting up new facilities.
Amrit Group operates in four segments of the animal industry - animal feed production, breeding farms, hatcheries, processed food products and dairy products.
The €44 million investment is intended for setting up new facilities, expanding presence across the country and venturing into ready-to-eat, ready-to-cook meat segment.
“We are looking at both organic and inorganic growth to be a leading player in the € 1.235 million poultry feed market in India,” Harish Bagla, managing director of Amrit told the Financial Chronicle in Kolkata.
The total animal feed market is even larger — estimated to be as large as almost €3 billion.
“We are open to third-party manufacturing arrangements as well,” Bagla said.
At present Amrit has 12 feed manufacturing units, which have an installed capacity of 720,000 tonnes per year.
“Another feed plant has just been commercially commissioned in Lucknow to cater to Delhi and a large part of north Indian markets,” Bagla said.
“We have acquired another plant at Jamuna Nagar to cater to the Delhi market exclusively and we are in the process of acquiring two other production units in Jammu and Raipur.”
Amrit has a market share of 27% in eastern India. Over the next two to three years, it hopes to enjoy similar market shares in northern and southern Indian market as well.
“In India, a meagre 2.2% of meat is processed, but consumption of processed meat is growing at a rate of 150%. All our products will be marketed under the Amrit brand name and will be retailed through outlets of Spencer’s, Metro Cash & Carry, Reliance Fresh and other leading retail stores,” Bagla said.