Future Group's food park to be ready in 2 yrs

Future Group's today said its food park, which is being set up as a part of its retail expansion business, would be ready in two years.

"We have acquired 100 acre of land in Bangalore for setting up a food park. The construction will start next quarter and take 24 months to complete," Future Group Integrated Food Strategy Head Damodar Mall said.

He said a special purpose vehicle has been set up for creating the infrastructure of the food park where vendors are able to set up base.

Mall said share of food products in the Future's overall retail business was 33 per cent.

"We will like to take it to 50 per cent," Mall told reporters on the sidelines of Retail Summit here.

He said that the total value of manufacturing from the food park would be Rs 3,000 crore per annum.

Out of the total, 15 per cent to 20 per cent would be of captive use by the group.