Keventer plans unit in Gujarat

Kolkata-based Keventer Agro Ltd is planning to set up a food processing unit in collaboration with a foreign partner, with an investment of $70 million.

The company was yet to finalise the site of the project, though Gujarat would be one of the preferred destinations, said M K Jalan, chairman, Keventor, on the sidelines of a roadshow by the Gujarat government to promote the "Vibrant Gujarat 2009" summit, to be held in January. "The foreign company is $20 billion company, " said Jalan, without disclosing further details.

Meanwhile, Keventor has also set up food processing plant at Sanad in Gujarat, adjacent to the Nano car plant, which will start functioning by next month. The total investment in the plant, which will be an export-oriented unit, will be Rs 150 crore.

Spread over 30 acre land, the total capacity of the plant will be 40,000 tons of processed food per year. On being asked if the company was planning to shift its operations from West Bengal to elsewhere, Jalan said, "We went to Gujarat before Nano was shifted from West Bengal, and we are not shifting our base." The company has privately acquired the land for the project in Gujarat.

Kventor is also in the process of setting up food processing plant in Rajasthan and Andhra Pradesh. The total turnover of the company is close to Rs 600 crore.