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Hyderabad, July 31 YES Bank, Alterra of Netherlands and Indu Projects Ltd have joined hands to establish a chain of ‘Integrated Agro Food Parks’ in the country.

Starting with four in Andhra Pradesh, the plan is to move to more locations in all southern States. The investment to create the proposed infrastructure in the agro food parks in Andhra Pradesh is of the order of Rs 1,000 crore. A memorandum of understanding was signed here today between YES Bank, Alterra, Part of the Wageningen University Research Centre, Netherlands and Indu Projects Ltd (IPL), a Hyderabad-based project developer.

The IPL Chairman and Managing Director, Mr Syam Prasad Reddy, said the Rs 1,000-crore investment was projected for the four parks in the State which would have a minimum size of 400 acres each. Funds would be raised through a combination of debt and equity.

Mr Reddy said IPL will create the infrastructure and offer the facilities to be run by partners. For investment, it will look for strategic partners and technology providers.

The probable locations in the State being considered are around Hyderabad, Vijayawada, Visakhapatnam and Tada in Nellore.

More Stories on : Foods & Food Processing | Infrastructure | Andhra Pradesh

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