Agristo Masa Pvt Ltd, a collaboration between Masa Global Food Pvt Ltd of the Wave Group and Belgium's IMSTO NV, is set to expand its Bijnor plant with an investment of approximately $90 million, raising the total investment to over $120 million.
The groundbreaking event saw the presence of Princess Astrid of Belgium, Uttar Pradesh Finance Minister Suresh Kumar Khanna, Chief Secretary Manoj Singh, and members of the Belgian economic mission to India.
The expansion is projected to benefit around 2,500 farmers, complementing the 500 farmers already supported by the plant's initiatives. The facility, which serves both domestic and international markets including North America, the Middle East, Southeast Asia, and Japan, previously invested $30 million in a potato flakes facility. The new $90 million investment will establish a French fries production line.
Manpreet Singh Chadha, Chairman of Wave Group, stated, "Our aim is to empower the farmers and diversify their cash crop beyond sugarcane. We have helped these farmers to double their potato output with the help of new technologies. Their income has increased by 50 per cent over the last 3 years."
Kristof Wallays, Director of International Expansion at Agristo, remarked, "The Bijnor plant is a testament to how results can be achieved when vision and technical expertise are combined."
Focusing on the Santana potato variety for French fries, Agristo Masa has been involved in guided farming since 2020, serving various sectors including retailers and fast food chains.
Minister-President Matthias Diependaele highlighted the Bijnor plant as an indicator of strong ties between Flanders and India, showcasing Belgium's involvement in India's growth.
Source: The Tribune