CHENNAI: Bunge Agribusiness, a leading player in the Indian hydrogenated vegetable oil market, said on Thursday it would invest $100-200 million in India over the next five years.
The investment was part of the company's plans to become a leading integrated edible oil company in India, regional general manager (Asia), Bunge Ltd, Christopher White, told on the occasion of the unveiling of Bunge's new range of edible oils here.
"In India, which is among the most important markets for Bunge, we have so far invested around $14 million," he said. The integrated operation will include production of oil, processing, crushing, refining and transporting it to retail outlets.
Bunge Agribusiness is a 100 per cent subsidiary of NYSE-listed Bunge Ltd.
Bunge, which began its Indian operations in 1997 through a trading business, acquired the edible oils and fats business of Hindustan Lever Ltd including Dalda and Masterline brands in 2003. It also entered into agreement with HLL to market its products through the vast distribution network of HLL.
It acquired Indore-based Prestige Foods Ltd's oilseed processing unit, an integrated vegetable oil refinery and packaging facility.
White said competition had been fragmented in India but leading players had started consolidating their operations. "We will look for more acquisitions in the future," he added.The Economic Times
