“The company is scheduled to start the work on the plant from October 2015 and is expected to take one year for completion,” said a spokeperson at the Aqua Aquaria 2015 international aquaculture expo in Vijayawada on February 21, 2015.
“The company will be investing $25 million to $28 million (Rs 160 crore to Rs 180 crore) on the plant. The plant will be set up in two phases, the first phase will have 50,000 tonnes capacity of fish feed annually and the balance 50,000 tonnes will be of shrimps feeds,” the source adds.
The source said: “We are already in talk with many for purchasing 10 acres to 15 acres of land strategically located between in Nellore district of Andhra Pradesh and close to Tamil Nadu state.”
The company is also planning to import plant equipment and expertise for setting up the plant from Vietnam.
However, if we get orders from others countries, we are open for exports too, the source stressed.
Speaking on the aqua sector industry, he said the sector is growing at the rate of 25 per cent per annum and we see good scope for our company in India.
Asking on which part of the country they are targeting for selling their feeds, the source said that 80 per cent of our production capacity will be consumed by Andhra Pradesh and balance will sold in West Bengal, Odisha and Gujarat states where demand for aquaculture feeds have increased.