The Indian fertiliser cooperative IFFCO has joined hands with Spanish firm Congelados De Navarra to set up a Rs 325 crore greenfield food processing unit in Ludhiana district in Punjab.
The $220 million Spanish firm would be providing its unique quick frozen technology for the project. The company deal with processing of vegetables, fruits, herbs and ready-made pre-cooked dishes. Land for the project has already been identified and work is slated to begin by December.
The project is slated to be completed in 18 months and production of processed foods like frozen potatoes, peas and cauliflowers is expected to commence from 2020. The project is expected to generate 400 direct and 5000 indirect local jobs in Punjab.