Rabo Equity to invest in poultry, sugar businesses in TN

CHENNAI: With food processing and agri business emerging as the new sunrise sectors, both businesses are pitted to grow sizably in the future. The processed fruits and vegetable industry in the country alone would jump from $1.1 billion in 2003-04 to $6.4 billion in FY'10. Changing lifestyles and growing per capita income of consumers are expected to spearhead the growth. Capitalising on the expected spurt in these sectors is Dutch financial services firm Rabobank, which through its equity fund arm, plans to invest in private equity to the tune of $ 40 million on 4 poultry and sugar industry projects in Tamil Nadu over the next 2 years. This amount would be drawn from the $100 million fund for agri business development in India that Rabobank, along with other financial institutions, announced recently. The balance capital... [read full story]