Agro Processing sector projects by Mahindra Shubh Labh Services Ltd in

Project Information

5961
Mahindra Shubh Labh Services Ltd
Mahindra Shubh Labh Services Ltd (MSSL), a subsidiary of auto giant Mahindra & Mahindra (M&M) has signed a joint venture agreement with Belgium based Univeg. Under the agreement, the two companies agreed to form a joint venturecompany in which MSSL will have 60% stake while the Univeg, the world's second largest supplier of fruits, would hold 40% stake. The company was set up with Rs 30 crore of capital investment initially. However, capitalinvestment will come at every stage of company's operations. The joint venture will focus on developing fresh fruit supply chain toprovide quality fruits that meets the need of both domestic and international markets. The joint venture will cover all business under agri vertical of MSSL except grapes which consists of most of company's business as of now. MSSL is India's largest grapes exporter with last year's turnover of Rs 65 crore out of its total annual turnover at around Rs 350 crore. "There are three basic aims of agri division of our group: increasing farmers'prosperity through raising farm output, producing best quality products toenhance their marketability and exports. This means, MSSL is meant to provideentire agronomy solution to farmers for their all round growth," said PawanGoenka, Executive Director and President, Automotive & Farm Equipment Sectors, M&M. The JV will benefit from the global expertise of both companies whereinUniveg will provide technical knowhow and best practices in quality control,post - harvest handling of fresh produce, ripening process, and farm agronomypractices and procedures to meet international quality standards. MSSL which launched Saboro brand apple in Hyderabad and plans toexpand into all metro cities this year, will assist the JV in arranging contract farming agreements across India while leveraging its domesticmarketing and distribution network and providing the required local licensingand support services.
Project Value
INR 30 Crore /-
JV Agreement Signed
Multi State
India
Agro Processing
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