IFFCO, the fertilizer co-operative is set to venture into food processing sector. The company has signed an agreement with Spanish firm Congelados De Navarra to set up a greenfield food processing unit in Ludhiana district in Punjab. The Spanish firm will supply unique quick frozen technology which will be used to process of vegetables, fruits, herbs and ready-made pre-cooked dishes. The project cost is estimated at Rs. 3250 million and is likely to go operational by 2019. It may be noted that, the company had recently ventured into dairy sector.
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