Vibrant Gujarat: IPL Biologicals to set up agro biologicals facility for Rs 400 crore, signs MoU
Dec 27, 2023
Gandhinagar (Gujarat) [India], December 27 : Agro-biological firm IPL Biologicals is set to establish biofertilisers, biopesticides, biofungicides, and microbial growth promoter facilities in Gujarat, and a Memorandum of Understanding was signed in this regard.
The agreement was signed in the presence of Chief Minister Bhupendra Patel and Mission Director of Gujarat State Biotechnology Mission, Videh Khare.
The proposed investment of Rs 400 crore is part of its commitment to promote eco-friendly farming practices.
The development and operational commencement of IPL Biological's agro-biological production facility is scheduled for mid-2025.
The focus of the first phase of production will be on biological agriculture products, followed by probiotics and enzyme products. The project will focus on reducing chemical usage in the agribusiness sector.
"As we embark on this transformative journey with the Gujarat government for the establishment of a new bio-fertilizer & bio-pesticide production facility in Gujarat, we are driven by a profound commitment to redefine the future of agriculture. Our vision goes beyond traditional boundaries, encapsulating a holistic approach towards sustainable farming practices," said Harshvardhan Bhagchandka, President of IPL Biologicals.
He further added, "Our commitment to Global Standard Manufacturing is a testament to our aspiration to produce high-quality products that meet and exceed global standards. This manufacturing unit will fully automated state of the art facility, probably best in the world and it will not only contribute to the local economy but also elevate India's standing in the global arena of biotechnology."
IPL Biologicals' proposed investment is set to create over 500 direct and indirect jobs, fostering skilled and scientific communities and drive regional economic growth.
Meanwhile, the Vibrant Gujarat Global Summit was initiated by Narendra Modi in 2003, then chief minister, to put Gujarat on the world map of trade and industry. The tenth edition of the Summit will be held from January 10 to 12, 2024.
The Summit event will be inaugurated by PM Modi on January 10.
