Emami Group has announced plans to invest approximately Rs 400 crore to establish a food park in West Bengal, marking a significant step in its strategy to expand its packaged foods business.
The company is seeking 22 acres of land from the state government for the project, which aims to bolster its production capabilities for staples such as edible oils, atta, spices, besan, soya chunks, and suji.
This capital expenditure underscores Emami's commitment to scaling its agribusiness operations beyond its traditional personal care and healthcare segments.
The investment is closely tied to the group's ambitions for Emami Agrotech Ltd, its edible oil and agribusiness subsidiary.
Reports indicate that the company is eyeing an initial public offering (IPO) for Agrotech, a move that would allow the group to raise capital independently for its food business while providing investors with direct exposure to this high-growth segment.
The proposed food park will serve as a key asset in the subsidiary's portfolio, enhancing its manufacturing footprint and supply chain efficiency.