Published On:November 7 2007
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Ferrero to set up plant near Indapur
Mumbai: Global confectionary major Ferrero International would be set up its first production facility near Indapur in Maharashtra. It would be set up with an investment of Rs 140 crore and is likely to start production by mid 2009.
The company is testing the Indian market and has chosen to introduce mouth freshener rather than its premium chocolates in the initial phase.
Ferrero through its 100 per cent subsidiary, Imsofer Manufacturing India Pvt Ltd on Tuesday signed a Memorandum of Understanding with the Government of Maharashtra for setting up the facility. Production has already started on a limited scale on a leased facility located in Baramati, near Pune.
Based on market response, it will start mid 2008 the construction of a new integrated factory in Indapur. By 2011 the facility is expected to employ over 500 people.
Mr V K Jairath, Industries Secretary of Government of Maharashtra and
Mr. Pierre Govare and Mr. Massimiliano Paoleschi, Directors of Imsofer signed the MoU.
Ferrero in a statement said that the company is will be instrumental in providing a range of confectionery products to the Indian market. The positive economic impact of opening a manufacturing unit will be widespread in the local communities as the facility will largely use local products as raw materials for the manufacturing and the packaging of its products.
Mr Jairath said: “Through our association with a global leader like Ferrero for implementing this manufacturing project, we take a step forward towards our goal of boosting the economic development in the State through rapid industrialisation, he said.
Mr Jairath added that the manufacturing facility would have a ripple effect on the local economy.
As main ingredients for confectionary making like sugar, milk and coco would be locally sourced. The project has been given the status of a mega project he said.