Indian-Belgian JV Agristo Masa announces additional investment of Rs 750 crore in Bijnor plant

Agristo Masa Pvt Ltd, a joint venture between Masa Global Food Pvt Ltd (part of Wave Group) and IMSTO NV, Belgium (holding company of Agristo NV, Belgium), announced an additional investment of ₹750 crore in its potato processing unit in Bijnor.

The company aims to uplift the agricultural landscape of western Uttar Pradesh and empower local farmers, who have already seen their income levels rise by 50% over the past three years.

Since its inception in July 2022, the Bijnor plant has transformed potato cultivation in the region, doubling productivity from 17 tonnes per hectare to 32 tonnes per hectare — one of the highest yields in India. With this fresh investment, the total capital expenditure in the plant will surpass ₹1,000 crore, ensuring sustainable growth and livelihood opportunities for thousands of farmers. Over 2,500 farmers are expected to benefit from the expansion, adding to the 500 who have already been positively impacted by the facility’s interventions.

Agristo Masa has been encouraging farmers of Bijnor and its surrounding districts like Moradabad and Hapur, known for sugarcane cultivation, to cultivate potatoes. The farmers are being given buyback options, pesticides, seeds and fertiliser by the company.

The Bijnor plant currently caters to both domestic and international markets, including North America, the Middle East, Southeast Asia, and Japan. Initially set up with an investment of ₹250 crore for a potato flakes facility, the new investment will enable the installation of a French fries production line, further enhancing the plant’s output and market reach.

Speaking at the groundbreaking ceremony, Manpreet Singh Chadha, Chairman of Wave Group, emphasized the importance of diversifying crops beyond sugarcane and equipping farmers with modern technologies. “We aim to empower the farmers and diversify their cash crop beyond sugarcane. We have helped these farmers to double their potato output with the help of new technologies. Their income has increased by 50% over the last three years,” he stated.

Kristof Wallays, Director of International Expansion, Innovation, and Sustainability at Agristo, highlighted the collaboration between Indian and Belgian expertise. “The Bijnor plant is a testament to how results can be achieved when vision and technical expertise are combined. Partnering with Masa Global Food has allowed us to contribute meaningfully to India’s rapidly evolving agriculture and food processing sectors while ensuring the development of all stakeholders. Next to the expertise of Indian farmers, we can rely on the expertise of several other Belgian companies, such as Vyncke through their Indian venture ForbesVyncke and AVR, specialised in harvesting machines,” he said.

The event saw the presence of distinguished dignitaries, including Princess Astrid of Belgium, Uttar Pradesh’s Finance Minister Suresh Kumar Khanna and Chief Secretary Manoj Singh. Also in attendance were Belgian and Indian government representatives, alongside members of the Belgian economic mission to India.

Matthias Diependaele, Minister-President of the Government of Flanders, hailed the expansion as a symbol of strong Indo-Flemish relations and Belgium’s commitment to India’s growth story. “Flanders is known for setting the stage for groundbreaking innovations. The Indian facility of Agristo Masa is equipped with cutting-edge Flemish technology. This new investment not only strengthens economic growth in India but also paves the way for further innovation. This expansion will further scale the production and deepen the collaboration with local farmers,” he said.