India’s Gujarat Co-operative Milk Marketing Federation (GCMMF) plans to invest the equivalent of almost $390 million over the next three years to expand the processing capabilities of its Amul brand.
The cooperative will invest INR 25 billion overall, including at least $124 million a year in constructing new processing plants to help meet the increased output.
It plans to grow Amul by 20% in the current fiscal year to become the biggest FMCG company in India by 2018-19, overtaking Hindustan Unilever.
The company currently sources 20 million litres of milk a day but will need to increase this by 13-14% in order to achieve the growth target.
GCMMF posted turnover of INR 270.85 billion ($4.19 billion) in the 2016/17 financial year, up 18% from the year before.
