Saraf Foods to invest Rs. 60 Crore in a new manufacturing plant near Vadodara; holds Bhoomi Pujan ceremony
With aim to diversify into air drying, adding capacities in freeze drying and strengthening backward integration by IQF, Saraf Foods Ltd., a Vadodara-based freeze dried specialist food processing company, will invest Rs. 60 crore in an all new unit at Vaghodia, Gujarat, INDIA. The ground breaking ceremony for the new plant was held last week. Saraf Foods has a significant presence in global markets like the US, Europe and the UK.
“We have set a target to roll out the air drying operations by end-November, 2017. The site development for the new facility is already underway and the building construction is expected to start next week.
The investment comes through an equal mix of debt and equity while we are also approved for Rs 10 crore as cold chain subsidy from the Ministry of Food Processing Industries” said Suresh Saraf, Chairman & MD, Saraf Foods Limited.
Individual Quick Freeze (IQF) which will form the foundation of its ambitions in backward integration is expected to start functioning by mid-January, 2018. The new freeze drying unit will commence operation by end of April, 2018.
Freeze dried food has made steady inroads given the fast paced lifestyle globally that has pushed up the demand for instant foods with a longer shelf life to save on time.
“There was a growing demand from our key customers for air dried products of an enhanced quality. At the same time, we have witnessed a steady demand for freeze dried items. Our expansion and capital expenditure has been made to meet the need. This will be our second manufacturing unit, with key technological investments made to make it future ready. This is a significant milestone achieved in the history of Saraf Foods,” said Shikha Saraf, General Manager, Business Development, Saraf Foods Limited.