Chennai-based $ 300 million Avina Group, which is in the infrastructure business, will present the business plan for its 2,000 crore food terminal market project near Chennai to the newly formed DMK government.
The previous AIADMK government had given all authorizations for the project, but due to the elections the company was unable to start operations, said Abhijit Verma, executive director and CEO of Avina Group.
The project has the opportunity to generate a turnover of around 35,000 crore and generate jobs for around 10,000 people, he said. Activity area.
The company is also setting up a similar project in Madhya Pradesh. It will be the first of its kind in India on over 10 million and 26 million square feet in Tamil Nadu and Madhya Pradesh, respectively.
“The project is about to revolutionize the traditional sabzi mandi, which today is one of the main platforms for farmers to sell their products. It will be aligned with the recently implemented Farm Bill, which opens up access to farm products. The food terminal market is designed to forever change the traditional concept of a mandi, which we believe will revolutionize the way farmers buy and sell, the way we trade food grains and fresh produce and catapult l ‘entire industry into the 21st century,’ he said. noted.
The project is conceptualized with the aim of building a place of national and international commerce, with a courtyard and a dry port, hospitals and budget hotels for farmers with a plan to introduce a day pass so that the farmers can even bring their families.
The project will be financed with 40 percent equity; 60 percent debt with part of equity from foreign direct investment. Fruits and vegetables, seafood, dairy and meat, grains and organic products are some of the areas to cover in the park.
The Chennai market will have a processing capacity of 12 lakh tonnes per year with centralized processing facilities, primary processing centers and collection centers as well as multi-temperature cold storage; tropical fruit ripening rooms; Meat processing; food preparation; ice chamber and wholesale market.
The business model of the market will be rental and collection of user fees; third party logistics; express deliveries (Farm to Park); exports; facility management and asset management, he added.
The main stakeholders of the project will be farmer-producer organizations, wholesalers, MSMEs and food companies, large food industries, large retailers, large e-commerce players, and educational and research institutions ( agricultural and fishing universities).
The waste would be reduced from the current level of 30-33 percent to 3-5 percent in the whole process, he said.
Expected foreign exchange earnings from exports are expected to be 5,000 crore, he added.