THIRUVANANTHAPURAM: Gulf-based supermarket chain Azcco Global, promoted by a non-resident Keralite, has announced an investment of Rs 500 crore in Kerala over the next nine years, including Rs 150 crore for launching its range of new 'Craze' biscuits from its upcoming factory in Kozhikode.
An agreement was reached at the 'Meet the Investor' programme organised by Industries Minister P Rajeeve, a release from the minister's office said. The new biscuits under Craze will be available in the market next year, the release said.
In the second phase, Azcco Global, headed by CMD Abdul Azeez, plans to set up its supermarket chains and eatery-cum-rest rooms by investing another Rs 350 crore. "The group will invest a total of Rs 500 crore in Kerala by 2030," the release said.
Azeez said the company will bring out 39 different types of biscuits in the first phase. The biscuit manufacturing factory of the company, which will come up at KSIDC Industrial Park, Kozhikode, will be ready this year itself. Machines with the latest technologies imported from Germany and Turkey will be deployed in the factory.
Azcco Global started out as a small business in 1992 when the core business of the company at that time was supplying vegetable and small retail outlets with grocery items. The company has grown rapidly since then and now employs over 1000 people with warehouse and office space in the main economic centers of India, Saudi Arabia, Bahrain and Kuwait with the head office situated in Dubai, United Arab Emirates.
It is reckoned that the biscuit market is growing at 11.27 % per annum. The group will strive to invest more in the state as more opportunities come up in the future, Aziz said.
K Elangavan, principal secretary (industries), S Harikishore, director, Santhosh Koshy Thomas, managing director, Kinfra, also participated in the event.