The Venkateshwara Hatcheries group has diversified into feed for fish and cattle. It has invested Rs 34 crore to set up a new aqua feed plant in Bangladesh.
“We are diversifying into aqua feed and are setting up a 3,500-tonne plant to make floating aqua feed in Bangladesh ,” Venkatesh Rao, group Managing Director, said.
The project, in collaboration with the Sterling University and being executed by the Group company Uttara Foods and Feeds Pvt Ltd (UFFPL), will go on stream in January.
Plans are also afoot to make vaccines and mineral mix for fish, he said.
Rao said that the opportunity was huge in Bangladesh and added that the scope in coastal States such as Andhra Pradesh and Tamil Nadu was being examined.
VH has also entered the business of pelleted cattle feed in Haryana, Punjab and Rajasthan a few months ago.
This could help in increasing milk yield.
“We are putting up a plant in Switzerland to make mineral mix,” Rao said, adding that discussions are currently underway and the plant is expected to become operational in eight months’ time.
With poultry feed, the current mainstay of UFFPL, the company will achieve a turnover of Rs 1,000 crore during this fiscal.
On a long term basis, 10-15 per cent of its business will come from cattle and aqua business, Rao said.