Bihar: This company will invest Rs 250 crore in Bihar, people will get jobs from the manufacturing plant.

Patna: Auro Sundaram International Pvt Ltd will invest around Rs 250 crore to set up a starch manufacturing plant in Araria district of Bihar. Company director Ashok Kumar Chaudhary gave this information. He made this announcement at the global investor summit Bihar Business Connect 2024 held here on December 19-20. Speaking to news agency PTI, Ashok Kumar Chaudhary said that the company already has a maize processing plant in Forbesganj in Araria district. He said that we have invested Rs 100 crore to set up this plant, which was completed last year. On from.

Chaudhary further said that from this plant the company supplies 'maize grits' to FMCG companies and 'floating fish feed' to fish farmers. He said that now we are planning to set up a starch manufacturing plant at the same location with an investment of about Rs 250 crore. Its capacity will be 500 tonnes per day and the plant will be operational by March 2027.

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Maize one of the major crops of Bihar

He told that we will supply starch to various industries including pharmaceutical companies. Regarding the source of financing, Chaudhary said the investment will be financed through equity and debt. The company director further said that maize is one of the major crops of North Bihar, whose production is about 50 lakh tonnes per year. He also said that there are a lot of business opportunities in the food processing sector in North Bihar.

423 companies will invest Rs 2 lakh crore in Bihar

Ashok Choudhary, Director of Auro Sundaram International Private Limited, further informed that the Bihar government is providing financial and other incentives to set up the industry. Chaudhary said the company is targeting an annual revenue of around Rs 125 crore in the current financial year. In the second edition of Bihar Investors Summit, the state government has attracted investments of about Rs 1.81 lakh crore, more than three times the Rs 50,300 crore received in the first edition held last year. 423 companies from various sectors have committed to invest Rs 1,80,899 crore in Bihar.