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Suguna Readying To Tap Retail Revolution
COIMBATORE - The Rs 1400-crore Suguna Poultry Farm Ltd is waiting in the wings for market opportunities the emerging retail revolution in the country is likely to offer. “We are yet to tie up with any retail major. We are waiting for the opportunity. When it comes we will be ready for that. We are doing the ground work”, B Soundararajan, managing director of the company told FE.Suguna produces over 55 lakh broiler chicken through a large network of contract farmers across the country, except in the Kerala. They are marketed as live birds, dressed whole birds, processed and branded parts.
It has launched its branded eggs, ‘Sumegga Pro’, value-added eggs sourced from Suguna’s own high-tech layer farm in Namakkal. The farm has a capacity for 6,000 to 8,000 eggs a day.
For backward integration, the company is implementing a Rs 950-crore long-term programme for setting up hatcheries and feed mills across the country. It will be seeking a $20 million (Rs 100 crore) IFC loan for the projects. IFC has invested Rs 50 crore ($11 million) as equity in Suguna Poultry Farm.
Works are under way for building four hatcheries, two in Andhra Pradesh and one each in Tamil Nadu and Maharashtra. They would be completed this year. Suguna has a tie-up with Ross Breeders, UK, for the supply of grand parent chicks.
The company is also setting up four feed mills, two in Andhra Pradesh, and one each in Karnataka and Maharashtra.
Source: TheFinancialExpress
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