Raipur: The Chhattisgarh government has signed memorandum of understanding (MoU) with three food processing firms, including Baba Ramdev’s Patanjali Ayurved Ltd, to set up processing units at an estimated investment of Rs762.80 crore.

The pacts were signed Sunday night with Patanjali, Manorama Industries Pvt. Ltd and Aakriti Snacks Pvt. Ltd during a meeting held in Raipur at the official residence of chief minister Raman Singh, an official said Monday.

As a part of the three pacts, food industries will be set up with an investment of Rs762.80 crore, and is likely to provide employment, directly or indirectly, to over 24,000 people, the Singh said.

An official said that the MoU signed with Patanjali Ayurved was worth Rs671 crore under which an agriculture and herbal processing unit would be set up in Bijetala village of Rajnandgaon district. The unit will be spread over an area of 500 acres which will benefit around 2 lakh farmers, the official added.

Manorama Industries, the official said, would as part of the agreement set up a unit of butter products based on sal seeds and mangoes in Rasni-Urla area at a cost of Rs76 crore. Similarly, Akriti Snacks will expand its Kolar-based unit and set up toast, bread and bakery production units by investing Rs15.80 crore, he said.

The food processing industries will play a vital role in doubling the income of farmers as per the vision of Prime Minister Narendra Modi as it will ensure a better market for raw materials, said Chhattisgarh CM Singh at the signing of the MoUs. “The Chhattisgarh government has given top priority to food processing sector in its industrial policy and every facility required will be provided to those willing to invest in this sector," Singh said.

Patanjali Ayurved CEO Acharaya Balkrishna, Ashish Saraf of Manorama Industries and Ashish Agrawal of Akriti Snacks signed the agreement for their respective firms while state special secretary Kamalpreet Singh signed on behalf of the Chhattisgarh government.

Chhagan Lal Mundra, chairman of Chhattisgarh State Industrial Corporation Ltd and chief secretary Vivek Dhand were present at the meeting.

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