Andhra Pradesh government has entered into several MOUs in the Partnership Summit last year. Patanjali made an MOU with the state government to invest 500 Crore in a Food Park which will generate Two Lakh Metric Tonnes of Food every year. The government had decided to allocate 172.84 acres land in Vizianagaram for this Food Park.
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The market rate of this land is 9.62 Lakhs per acre. AIIC will undertake the land acquisition and handover the land to Patanjali at the market rate. In the last couple of years, the demand for Patanjali products surged big time and so, the company is planning to increase the production capacity.
The group presently had 5,000 distributors and has tied up with major retail chains to sell more than 100 products. The group is currently producing more than 100 Ayurveda products including fast moving ones like honey, beauty products, and health drinks and is soon eyeing 10000 Crore turnover. This is one of the most promising MOUs signed in the partnership Summit.
