Tripura govt gives land for Pran investment
FHM Humayan Kabir | Thursday, 5 March 2009
Pran Group, the country's agro-food processing conglomerate, has moved one step forward with its investment plan after India's Tripura state government has allocated four hectares (10 acres) of land near Agartala for setting up a plant, company officials said Wednesday.
"The Tripura Investment Development Corporation (TIDC) has recently in a letter informed us that it will give us 10 acres of land at Boudhjungnagar, near to Agartala," a high official of the group told the FE.
He said: "We will set up our production plant there at a cost of nearly US$1.0 million."
Initially, Pran will produce different types of drinks, juice and confectionary items to sell those to the Indian markets, particularly in the seven remote northeastern states of India. "There is a big market in the Indian northeastern states. We are expecting Tk1.0 billion annual turnover from those markets," said Kamruzzaman Kamal, executive director (marketing) of the Pran Group.
He said: "We want to become a leading food and beverage supplier to the northeastern Indian states. It will help us make more competitive in the global export markets also."
Pran, a popular brand name in the country, has taken the move to construct its first manufacturing unit abroad taking advantage of India's decision to lift its ban on Bangladeshi investment.
In 2007, Indian government lifted ban on direct investment from Bangladesh and said it would welcome investments from its neighbour.
The plant will initially produce juice, jelly, drinks etc and is expected to come into operation within a year.
It will supply products to the Indian northeastern markets in Assam, Nagaland, Tripura, Meghalaya, Manipur, Mizoram and Arunachal Pradesh.
"The Tripura Investment Development Corporation (TIDC) has recently in a letter informed us that it will give us 10 acres of land at Boudhjungnagar, near to Agartala," a high official of the group told the FE.
He said: "We will set up our production plant there at a cost of nearly US$1.0 million."
Initially, Pran will produce different types of drinks, juice and confectionary items to sell those to the Indian markets, particularly in the seven remote northeastern states of India. "There is a big market in the Indian northeastern states. We are expecting Tk1.0 billion annual turnover from those markets," said Kamruzzaman Kamal, executive director (marketing) of the Pran Group.
He said: "We want to become a leading food and beverage supplier to the northeastern Indian states. It will help us make more competitive in the global export markets also."
Pran, a popular brand name in the country, has taken the move to construct its first manufacturing unit abroad taking advantage of India's decision to lift its ban on Bangladeshi investment.
In 2007, Indian government lifted ban on direct investment from Bangladesh and said it would welcome investments from its neighbour.
The plant will initially produce juice, jelly, drinks etc and is expected to come into operation within a year.
It will supply products to the Indian northeastern markets in Assam, Nagaland, Tripura, Meghalaya, Manipur, Mizoram and Arunachal Pradesh.