Azcco Group to invest Rs 500 crore in Kerla

rawan239

2 years ago

an expatriate industrial group, is launching a new biscuit manufacturing facility based inKerala, informed theDepartment of Industries, Government of Kerala.

For this, an agreement was reached at the Meet the Investor event organized by Industries MinisterP Rajeeveand according to this, the group will immediately invest Rs 150 crore to create a new brand called Craze Biscuits. The official launch will be next year.

Azcco Groupinformed the minister that they will be investing overall

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Rs 500 crore in the state by 2030. ASCO is an group led byAbdul Aziz, an expatriate businessman who runs supermarket chains in the Middle East.Azizsaid the new venture aims to gain a share of the ever-expanding biscuit market in Kerala. The firm will launch thirty-nine varieties of biscuits during the first phase, he added.

The construction of Craze Factory at Kozhikode KSIDC Industrial Park will be completed this year itself. The one lakh square foot factory will use German and Turkish machines and technology.