Cargill to set up Rs. 500 crore corn milling unit in Karnataka.

Food products firm Cargill India is setting up a corn milling plant with an investment of about Rs. 500 crore at Davanagere in Karnataka and the unit is expected to be operational from next year.

'It is a Rs. 500 crore project spread across 44.5 acres land in Karnataka. The facility is under construction and will commence operation from September 2015,' Cargill India Director and Business Head (Grains and Oilseeds Crush) B K Anand told PTI.

The processing plant, with an annual capacity of three lakh tonnes, will produce modified starch for the consuming processed food and pharma industries, predominately based in central and southern India, he said.

The company aims to utilise only 50 per cent of the capacity in the first year of commencement and use the full capacity later in three years, he added.

ET