CN IFFCO Pvt. Ltd.
Activity: Vegetable Processing Project
Corporate Office: New Delhi
IFFCO’s Shareholding: 40%
IFFCO and Congelados de Navarra (CN Corp.), Spain are setting up a Vegetable Processing Project in Ludhiana, Punjab which aims to reduce the wastage of perishable agri-produce and improve the income of farmers.
CN Corp. is among the top 5 leading frozen company in Europe engaged in the production and marketing of a wide range of high quality frozen vegetables & food products globally.
To implement the Project, a Joint Venture Company “CN IFFCO Pvt. Ltd.” has been formed in which IFFCO holds 40% equity and CN Corp. holds 60% equity. The production capacity of the Project is 80,000 MT per annum processed vegetable products. The estimated investment of the Project is Rs.500 crore.
The Project will have facilities to process a wide range of Individual quick freezing (IQF) vegetables e.g. Broccoli, Cauliflower, Carrot, Green Peas, Corn etc. and facility to process potatoes for production of French Fries and Potato snacks. The land has been purchased for the Project in Samarala located in Ludhiana district of Punjab. Around 10,000 farmers will be engaged for the supply of raw materials through contract farming. The commercial production is likely to start in 2020.