The processed food company Nilon’s entered the beverage segment. The Pune-based company has applied for a production-linked incentive program (PLI) from the Ministry of Food Processing Industries to set up a new factory for the company. The company will consider expanding and installing a new plant if it obtains the incentive.
Dipak Sanghavi, managing director of Nilon’s, says many companies have requested a program of Rs 10,900 crore. He hoped to be on the final list to be approved by the government. Nilon’s faces off against a large number of global food companies, but Sanghavi believes they have a chance for success.
Around 275 companies have reportedly expressed an interest in benefiting from the benefits of the scheme. Approvals are expected by the second week of August 2021.
Nilon’s Enterprises is a Rs 450 crore turnover company located in Jalgaon, Maharashtra with head office in Pune. The company received a 90 crore private equity financing from Banyan Tree Growth Capital.