Amul announces investment plans worth Rs 1500 Cr

07 September 2020 | News

GCMMF expects 12-15 per cent growth in revenue during FY2020 Image Credit: shutterstock.com Image Credit: shutterstock.com

The Gujarat Cooperative Milk Marketing Federation (GCMMF) plans to invest around Rs 1,000 crore over the next two years to set up milk processing plants, and another Rs 500 crore on facilities for new products like edible oil, as per R S Sodhi, MD, GCMMF. 

Sodhi said that the GCMMF expects 12-15 per cent growth in revenue in the current fiscal year from Rs 38,550 crore during the last fiscal year despite COVID-19 pandemic, due to increased demand for branded food products.

He also revealed that the processing capacity would increase to 420 lakh litres per day from the current 380 lakh litres per day. The cooperative has also begun manufacturing sweets as well as bakery items using dairy fats.

Amul has also forayed into edible oil and potato processing segments as part of its objective to boost income of farmers from Gujarat and other states. The edible oils will be marketed under the new brand 'Janmay’.

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