Daijiworld Media Network – Bijnor
Bijnor, Mar 2: Agristo Masa Pvt Ltd, a joint venture between Masa Global Food Pvt Ltd (a part of the Wave Group) and Belgium-based IMSTO NV (the holding company of Agristo NV), has announced a significant investment of Rs 750 cr to expand its plant in Bijnor, Uttar Pradesh.
With this fresh infusion of funds, the company's total investment in the facility now surpasses Rs 1,000 cr, strengthening its position in the food processing sector.
The groundbreaking ceremony for this expansion was graced by Princess Astrid of the Kingdom of Belgium, Uttar Pradesh Finance Minister Suresh Kumar Khanna, Chief Secretary Manoj Singh, and other dignitaries from the Belgian economic mission to India.
According to the company, the expansion will provide substantial benefits to approximately 2,500 farmers in the region, in addition to the 500 farmers already engaged in sustainable farming initiatives through the plant's operations.
The facility, which caters to both domestic and export markets—including North America, the Middle East, Southeast Asia, and Japan—initially received an investment of Rs 250 crore for a potato flakes processing unit. The latest investment of Rs 750 crore will be utilized to establish a new French fries production line, further boosting output.
Speaking about the development, Manpreet Singh Chadha, chairman of Wave Group, emphasized the company's commitment to empowering farmers by diversifying their crop choices beyond sugarcane. "We have helped farmers double their potato yield with advanced technology, leading to a 50% increase in their income over the past three years," he stated.
Kristof Wallays, director of International Expansion, Innovation, and Sustainability at Agristo, highlighted the partnership's success, saying, "The Bijnor plant showcases how vision and technical expertise can yield outstanding results. Our collaboration with Masa Global Food has enabled us to make a meaningful contribution to India's rapidly growing agriculture and food processing industries, ensuring holistic development for all stakeholders."
Since 2020, Agristo Masa has been engaged in guided farming in Bijnor, cultivating the Santana potato variety, which is well-suited for French fries production. The company primarily focuses on the private label market, catering to retailers, food service distributors, fast food chains, and the processing industry.
Matthias Diependaele, Minister-President of the Government of Flanders, remarked that the Bijnor plant symbolizes the strong ties between the Flanders region of Belgium and India. He added that the initiative reaffirms Belgium's commitment to being a key player in India's growth story.