IPL Biologicals will set up a facility in Gujarat with an investment of Rs 400 crore
Agrobiology firm IPL Biologicals on Wednesday said it has entered into a pact with the Gujarat government to set up a facility with an investment of Rs 400 crore.
The company signed a memorandum of understanding with state government agency Gujarat State Biotechnology Mission in the presence of Chief Minister Bhupendra Patel.
It aims to set up “a state-of-the-art facility for biofertilizers, biopesticides, biofungicides and microbial growth promoters in the region,” the company said in a statement.
“The investment of Rs 400 crore underlines IPL's commitment to promote eco-friendly agricultural practices and improve soil and environmental health,” the report said.
The company believes that the MoU with the state government is in line with the national goal of adopting organic and sustainable practices by 2030, the statement said.
The new facility will contribute to sustainable agriculture, it added.
“The main focus of the first production phase will be on agricultural products, followed by probiotics and enzyme products. The project will aim to reduce the use of chemicals in the agricultural sector and provide safe food production to the world,” the report said. .
The development and operational start of IPL Biological's agrobiological production facility is planned for mid-2025, creating more than 500 direct and indirect jobs, the company said.
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First print: December 27, 2023 | 11:46 PM IST