Bhimavaram-based aquafeed manufacturer, Shree Vijay Aqua Feeds Ltd. has announced it will build a new mill in Andhra Pradesh for domestic and overseas markets.
"We have signed a Rs.30 crore [approximately US$ 6.14 million] order with Muyang group of China for installing its high-tech machinery in our upcoming plant in Andhra Pradesh to process aquafeed for fishes and shrimps," Shree Vijay managing director B.K. Murthy told local reporters.
The aquafeed mill at Saripalle village in West Godavari district, about 320 km from Hyderabad, will have an automated extruded floating fish feed and pelleted shrimp feed with annual capacity of 180,000 tonnes to meet global demand for aquafeed.
Shree Vijay trades over 60,000 tonnes of aquafeed per annum worldwide, and can produce 1,900 tonnes of feed at 40 tonnes per working day.
"We have a license from secretariat of industrial assistance, department of industrial policy and promotion, and the Indian government to provide crisp fish food for tropical fishes," Murthy said told local journalists.
The company exports 75,000 tonnes of fish and shrimp to major markets worldwide, including the US and aims to double its revenue in fiscal 2014.