New Delhi: Merino Industries' ready-to-cook brand Vegit is looking at setting up a new manufacturing plant in Gujarat with an investment of Rs 50 crore.
The plant is expected to be operational by year 2017.
"We are looking at a second manufacturing plant in Gujarat with an investment of Rs 50 crore. It will be operational by 2017," Vegit Managing Director Prakash Lohia said.
On whether the company has finalised location for the plant, he said, "We are in talks with Gujarat Government officials. We are yet to finalise land for the new plant."
Lohia said that apart from new plant, the company also plans to raise production capacity of potato flakes at its existing plant at Hapur in Uttar Pradesh by 50 per cent to meet growing demand.
"Vegit will raise production capacity to 12,000 metric tonnes from current 8,000 metric tonnes by March 2015," he said.
It is also also looking at growing its product portfolio by adding six new variants of snack mixes to the current range of nine.
The company said it also plans to increase its retail presence by 25 per cent by adding 1,250 more stores to its 5,000 pan India outlets.
Vegit has a wide array of products starting from the flagship products Aloo Mash (Potato Flakes) to Indian snacks like Burger Patty, Aloo Tikki, Aloo Bonda, Soya Rolls, Cheese Balls, Hara Bhara Kebabs, Shammi Kebabs and Veg cutlets along with recently launched Pav Bhaji mix.
Merino Industries is the largest provider of potato storage and processing facilities in India.
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