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Vikas Multicorp to forays into cashew processing and marketing

Capital Market 

Vikas Multicorp plans to setup a raw cashew processing unit in designated food park in the state of Haryana- offering a host of subsidies, incentives and other tax benefits, with an estimated initial capex outlay of Rs.10 crore.

The project is expected to initially process 4500 MTPA of Cashew nuts, providing a finished cashew output of 1000 MTPA.

VML is in advance stage of negotiations for strategic partnership with few established FMCG Players to channelize the raw Cashew procurement at competitive prices and back-to-back buy-back tie-ups for processed and packed Cashews in premium and ultra-premium segments. In addition, VML intends to launch and market processed and packaged Cashews under its own brand through B2B and B2C segments.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, December 02 2020. 17:45 IST