DuPont arm to make soy protein ingredients in India

Tuesday, 30 March 2004, 08:00 Hrs
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NEW DELHI: DuPont arm The Solae Company said Monday it planned to set up a manufacturing base in India for soy protein ingredients as part of its growth strategy.

The Solae Company, a joint venture between DuPont and Bunge, intends to manufacture textured soy proteins and other soy protein speciality ingredients in India, said its president and CEO (worldwide) Tony Arnold.

The company proposes to apply to the Indian government's foreign investment promotion board for investments through its wholly owned entity Solae Company India Private Limited, Arnold said at a press conference here.

"Like the rest of DuPont, The Solae Company also sees India as a major growth market for this decade. The Solae Company is fully committed to playing an important role in satisfying the health and nutrition needs of the Indian consumer," he said.

According to Arnold, the food and nutrition market space in India is about worth 10 billion. The market is expected to grow rapidly over the next few years.

"Our aim is to be an ingredient and technology powerhouse for the food and beverage companies in the country operating in this space with our Solae brand of soy proteins," he added.

The Solae Company last year set up the Solae Regional Product Development Centre in India to focus on developing food products with soy protein ingredients to suit the food and taste preferences of Indian customers.

The centre offers market and product information, application technology support and world-class customer services, combining local market insights with global expertise and experience to create customised solutions.

Source: IANS
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