India-based dairy firm Thirumala Milk Products (TMPL) is establishing a milk processing and packaging plant at Melmaruvathur in Tamil Nadu state with an investment of INR1bn ($18.28m).
The facility is expected to process 400,000 liters of milk per day, according to the company.
TMPL managing director Brahma Naidu said that the construction of the plant is in progress and is expected to be completed in the next six months.
The company is conducting a survey besides looking for milk facilities to acquire or take on lease in Delhi, for which it allocated INR500m ($9.18m), Naidu added.
In addition, the company plans to establish an integrated dairy at Vinukonda in Guntur district of Andhra Pradesh with an investment of $18.37m, reports The Hindu Business Line.
For the fiscal 2012-13, the company expects revenues of INR15bn ($274.3m) and net profit of INR1.1bn ($20.11m).
TMPL, established in 1998, has its operations across Andhra Pradesh, Tamil Nadu and Karnataka. The company markets long shelf-life products such as UHT (ultra-high temperature processing) milk in Gujarat, Madhya Pradesh, Maharashtra, Chhattisgarh and Himachal Pradesh.
TMPL operates seven milk processing plants and 115 chilling centers across south India. It procures 1.1 million liters of milk a day from 2,00,000 farmers.