GUWAHATI, Aug 8: Integra Essentia Limited (IE Ltd) acquired a rice processing facility located in Bareilly, Uttar Pradesh. IE Ltd will hold 66% stakes in the acquired entity which is spread over 4500 sq. mtrs. and is already operational with all the necessary licenses and certifications.
Notably, India is the largest exporter of rice worldwide with 21.5 million tonnes of rice exports, which is larger than the next biggest 4 exporting countries combined together and the second largest rice producer globally with an annual rice production of about 120 million tonnes, while Uttar Pradesh is the second largest rice producing state in India producing an annual 15.60 million tonnes.
Further, the company is also exploring expanding its business through acquisitions of operational facilities and is in advanced stages of studying, comparing and finalising acquisition of processing facilities under its long-term plan to Broad-Base the business interests in life essential products.