U.S. Based Blumberg Grain Plans To Invest $250 Mn In India

NEW DELHI: U.S.-based food storage technology provider Blumberg Grain is planning to enter the Indian market by investing about $250 million over next five years for setting up plant to manufacture components for scientific warehouses.

Senior officials of Blumberg Grain, a division of global investment firm Blumberg Capital Partners, are currently visiting India to scout for land to establish manufacturing facility and also explore markets to sell its products.

It is keen to work with state governments and the private sector to upgrade agricultural supply chain in India through the creation of modern food storage and warehousing systems.

"We want to be part of Indian agriculture story. There is lot of opportunity because of post-harvest losses," Blumberg Grain-West Africa CEO David Blumberg told.

He said the company is visiting different states such as Punjab, Gujarat, Uttar Pradesh, Madhya Pradesh and Karnataka, looking for about 10 hectares of land to set up facility in India to manufacture components for scientific warehouses.

Asked about planned investment, David Blumberg said: "We have an investment programme of $250 million over the next five years in India".
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