Indian conglomerate Keventer Group has insisted it remains locked in talks with potential foreign investors over its dairy plant in Rajasthan – but refused to be drawn on reports linking Danone to the project.
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In an exclusive interview with just-food, Keventer founder and chairman Mahendra K Jalan said reports in India were just “speculation”.
“We have not made any agreements with any foreign company yet,” Jalan said. “But we are in dialogue with a few European companies, an Australian company and also an American company. It is still dialogue only at this stage.”
Keventer’s milk processing plant in Rajasthan is slated to be India’s largest such site, with a daily capacity of 3m litres.
Keventer is looking to hold a 44.5% interest in the INR2.5bn (US$63.7m) project with a partner holding an identical stake. Rajasthan’s state government would have an 11% share.
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By GlobalDataJalan added: “It will take at least another 30 days [to complete a deal] because we want to make a long-term partnership and the foreign companies’ strategies must match ours. The milk market is having an increase in demand and the potential is big so we must be careful.”
Officials at French dairy giant Danone could not be reached for immediate comment.
