Chennai: Kemin has stated that it has invested $8 million at Chennai Plant for the expansion of its second unit, with an aim to touch more than 3.8 billion global population.
The global nutritional ingredient company said the additional capacity is designed to serve the growing demand for specialised nutritional ingredients to address the needs of the rapidly growing South Asian animal protein industry.
President and CEO of Kemin Industries, Chris Nelson, said, ‘South Asia is a very important animal feed market in the world producing more than 35 million tonnes of compound feed. The overall demand of animal protein is also increasing in the region due to rapid economic growth of India, Bangladesh, Sri Lanka and Nepal. To address the rapid growth in the demand of animal protein coupled with the objective of better customer service we decided to invest in the additional capacity of our existing Gummudipundi plant in Chennai.’
the firm’s global market share is between eight and 25 per cent depending on the sectors serving. The Indian market also share varies from 25–50 per cent depending on the sectors serving.