Ruchi Soya to invest Rs 300 crore in Maharashtra

[Editor: I think you remember that Rasoya Proteins Limited (Re.0.48) which is engaged in the business of Soya extraction and Power Generation, is also a Maharashtra-based company. Rasoya Proteins Ltd is primarily engaged in the business of soya processing through soya solvent extraction plant and oil refinery along with lecithin plant. It is also engaged in the business of generation of power having production capacity of 10 megawatt per hour. The primary products of the Company are De-oiled cake, crude oil, refined edible soya oil and other consumer products. Its soya products consist of Soya Namkin (Ready to Eat Snack Food), Wheat Atta, Jawar Atta, Besan, Soya Wadi, Nuggets, and Oil. It sells its Soya Refined Oil under the brand name Rasoya. It also has a wheat processing plant, soya nugget manufacturing unit and also manufacturers various kinds of soya flours. The scrip is likely to give superb returns in the next 4-5 months period]

Saturday, 25 April 2015: Edible oils manufacturer Ruchi Soya has signed a memorandum of understanding with the Maharashtra government to invest Rs 300 crore in the value chains of soybean and tomato in the state.

Almost 1.25 lakh tomato growers and 1.5 lakh soybean grower farmers in the state would have direct market for their produce.

United Phosphorous has also signed a MoU with the state government to upgrade its crop care centres to 100 to ensure minimum post harvesting losses for the farmers, an official release said.

Chief minister Devendra Fadnavis on Friday held a round table meeting with 28 industry representatives engaged in agri-products and processing.

Fadnavis told the industry captains that state government has decided to scrap cess being levied on purchases made outside the APMC (Agriculture Produce Marketing Committee) and has lifted ban on stocking oil seeds.

The round table was aimed at increasing public private partnership for integrated agricultural development (PPP-IAD) which was started in 2012-13. In 2012-13 it was with 20 private companies and with participation of one million farmers, 10 value chains were envisaged and now after today's meeting, a total of 30 value chains are targeted with participation of five million farmers with 60 private companies in the PPP-IAD. Crops like maize, rice, soybean, pulses, cotton, sugarcane, fruits and vegetables would be incorporated in these value chains.

For providing crop insurance the government has roped in Swiss Re, the re-insurance company, for a pilot project for surveying the villages via satellite. Fadnavis said that the satellite imageries would enable us to provide individual field level information so that information would be accurate.

Courtesy: DNA India