Blumberg Grain plans to invest $250 mn in India

In talks with state govts to set up manufacturing facility

US-based food security solutions provider Blumberg Grain is looking at immediately establishing a manufacturing plant and export hub in India, and as a part of it has committed to make an incremental investment of $250 million over the next five years, according to its chief executive officer (West Africa) David Blumberg.

"We are in discussion with Andhra Pradesh as well as several other states to explore propositions for establishing the manufacturing plant and an export hub for Asia. The facility will be up and running in the next eight to 10 months," he told mediapersons here on Friday.

Blumberg said the a part of the proposed investment will be infused into activities such as high-yield farming as well as downstream infrastructure like processing and packaging facilities.

"The Blumberg Grain hub in India will manufacture components for scientific warehouses and agricultural processing systems. Blumberg Grain will export its systems, made in India, throughout Asia. The manufacturing facility alone would generate over 1,000 local jobs and an estimated economic impact of $1 billion in the first year of operation in the state in which it is set up," he added.