AGRISTO MASA PVT LTD, a joint venture between Masa Global Food PVT LTD (part of the Wave group) and IMSTO NV, Belgium (Portfolio Company of Agristo NV, Belgium), announced an additional investment of 750 crore in its unit of transformation of potatoes in Bijnor.
The company aims to raise the agricultural landscape of western Uttar Pradesh and to empower local farmers, who have already seen their income level increased by 50% in the past three years.
Since its creation in July 2022, the Bijnor plant has transformed the cultivation of potatoes in the region, doubling the productivity of 17 tonnes per hectare at 32 tonnes per hectare – one of the highest yields in India. With this fresh investment, total capital expenditure in the factory will exceed 1,000 sterling books, ensuring sustainable growth and livelihood opportunities for thousands of farmers. More than 2,500 farmers should benefit from expansion, adding to the 500 which have already been positively affected by the interventions of the installation.
Agristo Masa encouraged Bijnor farmers and his surrounding districts like Moradabad and Hapur, known for the cultivation of sugar cane, to cultivate potatoes. Farmers receive buyout options, pesticides, seeds and fertilizers by the company.
The Bijnor factory is currently aimed at national and international markets, especially in North America, the Middle East, Southeast Asia and Japan. Initially implemented with an investment of 250 sterling books for an installation of potato flakes, the new investment will allow the installation of a production line of fries, further improving the production and scope of the factory market.
Explaining during the revolutionary ceremony, Manpreet Singh Chadha, president of Wave Group, stressed the importance of diversifying crops beyond sugar cane and equipping farmers with modern technologies. “We aim to empower farmers and diversify their rent harvest beyond sugar cane. We helped these farmers double their production of potatoes with the help of new technologies. Their income has increased by 50% in the past three years, “he said.
Kristof Wallay, director of international expansion, innovation and sustainability in Agristo, underlined the collaboration between Indian and Belgian expertise. “The Bijnor factory testifies to how the results can be obtained when vision and technical expertise are combined. The partnership with Masa Global Food has allowed us to significantly contribute to the sectors of agriculture and the transformation of rapidly evolving foods from India while ensuring the development of all stakeholders. Besides the expertise of Indian farmers, we can count on the expertise of several other Belgian companies, such as Vyncke through their Indian company Forbesvyncke and AVR, specializing in machines harvest, “he said.
The event saw the presence of distinguished dignitaries, notably Princess Astrid of Belgium, the Minister of Finance of the Uttar Pradesh, Suresh Kumar Khanna, and the chief secretary Manoj Singh. Representatives of the Belgian and Indian government, alongside the members of the Belgian economic mission in India, were also present to members of the Belgian economic mission.
Matthias Diependele, Minister-President of the Government of Flanders, praised expansion as a symbol of strong indo-flemand relations and Belgian’s commitment to the history of India’s growth. “Flanders is known to prepare the way for revolutionary innovations. The Indian Installation of Agristo Masa is equipped with advanced Flemish technology. This new investment not only strengthens economic growth in India, but also opens the way to a new innovation. This expansion will evolve more production and deepen collaboration with local farmers, “he said.
