India-based Dharampal Satyapal Group intends to invest INR2bn ($32m) to establish five dairy production units in India over the next three years.
The firm, which plans to roll out a range of dairy products such as butter and cheese across the country, is aiming to generate revenues of INR10bn ($160m) from its dairy unit by 2017-18, reports Press Trust India (PTI).
Recently, the firm bought a manufacturing facility in the state of Rajasthan for an undisclosed amount with its commercial operation expected to commence by March 2015.
Dharampal Satyapal Group's business head for dairy division Sunil Kumar Bansa was quoted by PTI as saying: "We have not decided on how many plants will be company-owned or how many will be leased ones. Still, it will require around Rs 200 crore of investment to have these five plants in the next three years."
The new five facilities will be a combination of company-owned and leased.
In addition, DS Group plans to establish a greenfield facility in the state of Assam. As part of this plan, the firm has acquired equipment and is currently scouting for 5-7 acres of land near Guwahati.
