Norway's Orkla to invest Rs 150 crore in Kerala

Norwegian company Orkla is to invest Rs 150 crore in the packaged food sector of Kerala.

Atle Vidar Nagel Johansen, CEO of Orkla branded consumer goods, gave an assurance to State Chief Minister Pinarayi Vijayan that the investment of Rs 150 crore would be made in the southern State, the Chief Minister's Office (CMO) said here.

The assurancee was given in a meeting held with a high-level delegation led by Vijayan, his Cabinet colleagues and officials.

The packaged food major, which had acquired 67 per cent stake in the well-known Kerala-based spice-maker Eastern Condiments, is a prominent Norwegian company which is expanding its business in India.

Orkla decided to set up a food processing research centre and introduce a system to ensure more income for farmers and also plans to invest in renewable energyy sector, the CMO statement said quoting Atle Vidar.

Vijayan, during the meeting, pointed out that Kerala is a leading hub of value-added spice products.

The State government is giving top priority to the food processing sector to utilise the State's potential in the area, he said

The Industries Department used to appoint a special nodal officer for those who invest more than Rs 100 crore.

As part of this, the nodal officer would be entrusted with the task to provide hand-holding services for the further investments by Orkla, the Chief Minister added.

State Industries Minister P Rajeeve, Chief Secretary V P Joy, and other higher officials took part in the meeting, the statement added.