India-based manufacturer of branded milk and ice cream Hatsun Agro Product plans to establish a milk processing facility in Tirunelveli, Tamil Nadu with an investment of INR500m ($9.39m).
The plant is expected to process 2.5 lakh liters of milk per day. The company also plans to add a curd unit, which will process and pack curd in packets, at the plant with a capacity of about 20,000 liter a day, reports The Hindu Business Line.
Hatsun Agro currently has about 1.2 lakh liters of curd production and packaging capacity and a total capacity to process about 24 lakh liters of milk and dairy products per day.
For the third quarter ended December 31, 2012, the company posted net income of INR150m ($2.81m) and revenues of INR5.4bn ($102m).