Punjab-based firm plans to set up agriculture park

Vijay C Roy / New Delhi/ Chandigarh December 27, 2011, 0:32 IST

Punjab-based Sampurn Agri-ventures, a subsidiary of state-based NASA Agro has plans to set up integrated agri-business model for wasteland development in Punjab's Malwa region with a project cost of Rs 500 crore. The Rs 500 crore project involves setting up 90 acres agro park by NASA Agro at a cost of Rs 400 crore and a biogas plant including two digesters by Sampurn Agri-Ventures in technical collaboration with Kirloskar Integrated Technologies.

Speaking to Business Standard, Sampurn Agri-Ventures, Director, Sanjeev Nagpal said, " Initially, we are putting up 2 digesters and 1 MW biogas power plant in Fazilka with an investment of Rs. 32 crore which would be commissioned within a year's time. In the project, the Kirloskar Integrated Technologies will have 10 per cent stake, Punjab agro 11 per cent while rest would be of NASA Agro and promoters equity. The digesters would produce 120,000 cubic metres of gas which will act as raw material for power plant, 150 tonnes fertilizers per day, fodder etc. "

He added, " We have technical collaboration with Kirloskar Integrated Technologies for bio-gas plant." It is worth mentioning that Kirloskar Group has developed paddy-straw based biogas plant specifically for this region with forward integration to use brackish water for biogas digesters, and processing paddy straw residue into bio-fertilizers with silica, cellulose and lignin content ideal to revive the alkaline soils and promote other allied activities for the economic development of the region. He added that Kirloskar group would not only provide the patented biogas power plant, but also would have equity participation of 10 per cent in the project.

He added, " Further, NASA agro would be setting up an integrated agro park spread over 90 acres having all the requisite infrastructure with a project cost of Rs. 400 crore in two phases The first phase is likley to be completed in a years time. In the first phase, the agro park to be developed by Nasa Agro shall empower the farmers to start dairy, poultry/duck and fish farming, cultivation of high quality fruits, vegetables and mushroom. The entire agri-business needs to be a successful value chain that is agronomically sustainable, environmentally sensitive, socially responsible and economically viable both nationally and globally, that delivers tangible benefits to all stake holders."

"In the second phase we have plans to set up storage facilities including cold chain, packing and packaging facilities etc," he said. As far as funding is concerned, Nagpal added that it would be funded through promoters equity, private equity and term loan from banks.

It is pertinent to mention here that this project is a major success to revive the Malwa belt which is reeling under innumerable socio-economic problems with its depleted resources, vanishing cultivable land, alkaline soil, and unpotable brackish water that is endangering the lives and health of the residents.

http://www.business-standard.com/india/news/punjab-based-firm-plans-to-setagriculture-park/459786/