Nimbus Foods to setup manufacturing plant in Jodhpur

Nimbus Foods Industries Ltd said today that the Board of Directors of the Company at its meeting held on September 27, 2010, has considered to expand the present line of business of manufacturing of breads and backer/ products by establishing new manufacturing facilities at Jodhpur in the state of Rajasthan, Puna and Nagpur in the State of Maharashtra and at New Delhi. To establish 30 most modern bakery outlets as "Live Bakery Shop" at Ahmedabad (Gujarat), Puna and Nagpur (Maharashtra). To expand in the field of snacks and namkeen by acquiring stake in the already established units.
To develop own and long term leased agriculture farms with latest horticulture techniques. The total cost outlay envisaged for the above expansion project is about Rs5bn which will be financed by tie-up of Term Loan and right issue at appropriate time subject to necessary approvals.