New Delhi: Patanjali Ayurved, promoted by yoga teacher Ramdev, may announce an investment of Rs 1,600 crore shortly for setting up a herbal food park in Noida in Uttar Pradesh to meet its domestic as well as global demand.
"It is almost finalised now. You may see an announcement by Patanjali Ayurved for an investment of around Rs 1,600 crore in Noida for setting up a food processing plant around Diwali," a senior UP government official privy to the development said.
"As far as investments in the state are concerned, the Uttar Pradesh government is fair and transparent for promoting industrialisation which will create jobs."
However, the company officials have also confirmed the development, saying the procedure for identification of the land is at an advanced stage and the unit can be near Yamuna expressway.
He further said Patanjali CEO Acharya Balkrishna has held meetings with the CEO of Yamuna Expressway Industrial Development Authority (YEIDA) in this regard.
Asked how soon Patanjali could start manufacturing at the proposed plant, the official said: "We would make the unit operational within 12-18 months of allotment of land."
When the plant runs to its full capacity, it would have a capacity to produce goods worth Rs 25,000 crore annually, the official claimed, adding that around 10,000 direct jobs could be provided benefiting 50,000 families.
"For Bundelkhand regional plant, we are discussing for the special package and incentive with the state government. We are working on that," the company official said.
"It is almost finalised now. You may see an announcement by Patanjali Ayurved for an investment of around Rs 1,600 crore in Noida for setting up a food processing plant around Diwali," a senior UP government official privy to the development said.
"As far as investments in the state are concerned, the Uttar Pradesh government is fair and transparent for promoting industrialisation which will create jobs."
However, the company officials have also confirmed the development, saying the procedure for identification of the land is at an advanced stage and the unit can be near Yamuna expressway.
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He further said Patanjali CEO Acharya Balkrishna has held meetings with the CEO of Yamuna Expressway Industrial Development Authority (YEIDA) in this regard.
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Asked how soon Patanjali could start manufacturing at the proposed plant, the official said: "We would make the unit operational within 12-18 months of allotment of land."
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When the plant runs to its full capacity, it would have a capacity to produce goods worth Rs 25,000 crore annually, the official claimed, adding that around 10,000 direct jobs could be provided benefiting 50,000 families.
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"For Bundelkhand regional plant, we are discussing for the special package and incentive with the state government. We are working on that," the company official said.
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