Bijnor, : Agristo Masa Pvt Ltd, a joint venture between Masa Global Food Pvt Ltd (part of Wave Group) and IMSTO NV, Belgium (holding company of Agristo NV, Belgium), which has transformed the lives of farmers in western Uttar Pradesh by increasing their income-levels by 50 per cent over the past three years, is turbocharging the agricultural landscape with a fresh investment of Rs 750 crore in its plant here.
Ensuring a holistic development of the region, around 2,500 farmers are expected to benefit from this expansion. This is in addition to the 500 farmers in the region who have been provided sustainable livelihood opportunities through the plant’s interventions.
Since its inception in July 2022, productivity in potato cultivation has also gone up from 17 tonnes per hectare to 32 tonnes per hectare, one of the highest in the country.
The plant, which caters to both domestic and export markets with North America, Middle East, South East Asia and Japan being the key geographies, had earlier entailed investment to the tune of Rs 250 crore for a potato flakes facility. The additional investment of Rs 750 crore will be done to install a new production line of French Fries.”
“Our aim is to empower the farmers and diversify their cash crop beyond sugarcane. We have helped these farmers to double the potatoes output with the help of new technologies. Their income has increased by 50 per cent over the last 3 years,” said Mr. Manpreet Singh Chadha, Chairman, Wave Group, that owns 50 per cent stake in the joint venture.
Mr. Kristof Wallays, Director International expansion, innovation and sustainability of Agristo, said: “The Bijnor plant is a testament of how results can be achieved when vision and technical expertise are combined. Partnering with Masa Global Food has allowed us to contribute in a meaningful manner to the rapidly evolving Indian agriculture and food processing sectors and ensure development of all stakeholders. Next to the expertise of Indian farmers we can rely on the expertise of several other Belgian companies such as Vyncke through their Indian venture forbesvyncke and AVR, specialised in harvesting machines.”
Gracing the occasion as a guest of honour, the Minister-President of the Government of Flanders Matthias Diependaele, noted how the plant is a sign of strong relations between the Flanders region and India, and demonstrates Belgium’s commitment to participate in the India growth story.
“Flanders is known for setting the stage for groundbreaking innovations. The Indian facility of Agristo Masa is equipped with cutting-edge Flemish technology. This new investment not only strengthens the economic growth in India but also paves the way for further innovation. This expansion will further scale the production and deep the collaboration with local farmers,” said Minister-President of the Government of Flanders, Matthias Diependaele.
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