Indian condiment and snacks maker Cremica Food Industries is building a new factory in the northern state of Himachal Pradesh, which could double its production capacity in two years, just-food has been told.
“We are setting up the infrastructure for the future growth,” Akshay Bector, chairman and managing director of Cremica told just-food. “We are experiencing 25% to 30% growth [in sales] every year and are very well placed to take on bigger market share.”
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The factory will cost US$16m to build and is being part-funded by a Mega Food Parks Scheme of the Indian Ministry of Food Processing Industries, involving capital grants meeting 75% of the project costs, excluding land purchases, up to $8m.
The new facility will also strengthen the company’s processing facility for tomatoes, which it purchases directly from Indian farmers, said Bector.
With annual sales of $32m, Cremica Food Industries (part of a larger Cremica group), has two existing factories, one near Jalandhar in Punjab and another one in Greater Noida near New Delhi. The new production facility in Una district of the hill state of Himachal Pradesh would be within an integrated food manufacturing park complex, said Mr Bector.
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