Milkfed to develop land in public- private partnership

Punjab State Cooperative Milk Producers’ Federation Limited, popularly known as Milkfed, plans to develop two vacant lands at Bhatinda and Amritsar under public private partnership.

The move is aimed at boosting revenues and also clearing debt of Rs 200 crore.

The federation has 11 acres at Bhatinda and 4.15 acre at Amritsar. According to the feasibility report by IL&FS, the land at Bhatinda can have housing project, commercial complex and recreational facilities etc. The total project at Bhatinda can attract an investment of Rs 200 crore. The Amritsar land, adjoining a milk plant, can be utilised for a commercial complex and is likely to attract Rs 100 crore.

 

The federation has applied for change in land use after which it would invite expressions of interest for the project. It has proposed to provide the land on a 35-50 year lease to private developers for commercial purpose.

Besides, Milkfed has hired Rabo India Finance Ltd to prepare a strategic vision plan. The firm is expected to submit its revised report soon suggesting ways to improve efficiency, profitability and marketing operations.

There are about 360,000 dairy farmers who supply milk to the federation. It sells its dairy products like fresh milk, curd, paneer, lassi, and desi ghee under the Verka brand.