Bhubaneswar: Fertiliser cooperative giant IFFCO will soon launch an agriculture-based food processing SEZ in the state of Andhra Pradesh.

“As part of its diversification activities, IFFCO will soon set up a farm-based food processing SEZ at Nellore in Andhra Pradesh with an investment of Rs2400 crore,” said U S Awasthi, managing director, IFFCO.

Claiming that the venture, christened as ‘Kisan SEZ´, “will be India’s first SEZ in which farmers’ cooperatives will participate as shareholders,” Awasthi said the project has already been cleared by the Centre.

Kisan SEZ would come up on an area of about 3000 acres, close to Krishnapatnam port, which is being developed as a major port in south India. It would not involve any displacement of land owners as the proposed site is already in IFFCO’s possession, Awasthi said.

It would provide state-of-the-art infrastructure facilities to a range of industries with primary focus on food processing and agri-based industries, Awasthi said.

The SEZ is expected to generate employment opportunities for more than 10,000 people apart from leading towards large scale economic development of the region.