Minerva Flavours and Fragrance Pvt Ltd to set up flavour and fragrance unit

Details
Category: Food Supplements
Kanoria Chemicals & Industries (KCIL) had formed a joint-venture with Solutex of Spain to form Minerva Flavours & Fragrance (P) Ltd. In this new company, KCIL will hold 26% stake. The company will invest around Rs.250 million to set up a flavour and fragrance unit to extract flavours from essential oils which are widely used in beverage industry. The unit will come up on 30 acres of company land in Visakhapatnam. It may be noted, KCIL is also setting up greenfield unit with an investment of Rs. 780 million in Visakhapatnam which will produce .05 lakh tonne of formaldehyde and 5,600 tonne of hexamine.