India, Jan. 29 -- Sayaji Industries Limited has entered into a 50:50 joint venture with France-based Nigay SAS to establish a state-of-the-art caramel manufacturing facility in Ahmedabad, the company said on Thursday.
The joint venture aims to cater to high-growth emerging markets, including India and the Indian subcontinent, the Middle East, Africa and South East Asia. Demand for caramel products continues to rise across beverages, flavours, bakery products and ready-to-consume food segments in these regions.
Commenting on the development, Priyam Mehta, Chairman and Managing Director of Sayaji Industries Limited, said the new caramel manufacturing plant will be set up in Ahmedabad and will leverage Sayaji's operational experience alongsi...