Fuji Oil of Japan has formed a joint venture firm with the Hyderabad-based 3F Industries to produce non-dairy cream and other food ingredients.
The 55:45 joint venture will initially invest Rs 100 crore on the plant. Production will commence in March 2015.
The demand for non-dairy whipping cream in the country is pegged at 90,000 tonnes a year. The market for this product is growing at 15-20 per cent, Sushil Goenka, Director, 3F Industries, said.