Indian poultry company to receive $23 million for expansion
International Finance Corporation, World Bank's private sector investment arm, decided to make an equity investment of $23 million in Srinivasa Farms, Hyderabad-India, in order to help the poultry producer to expand its operations.
Additional farms and hatcheries are to be built in the area along with feed mills, soya refineries, a food park and new lines for chicken and egg processing businesses, reports VC Circle magazine.
Srinivasa Farms operates an integrated layer and broiler breeding business and has a presence in soya, feed, layer and broiler breeding and contract farming. The company was founded in 1965 and has a strong presence in the domestic market.
The total investment in this project will amount at $83 million, according to an estimate made by IFC.
Globally, IFC has invested in poultry projects placed in Africa, Nepal and Ukraine and its own global expertise in the poultry sector, technical advice on best-operating practices and improvement of food safety standards could help Srinivasa Farms grow its operations.
(Photo source: Agriculture.gov.gy)
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