Nitta Gelatin launches Expansion Project

The Ground Breaking ceremony (Bhumi Pooja) of Nitta Gelatin India Ltd (NGIL)'s Collagen Peptide expansion project was held on April 30, 2024 at its factory located in Kakkanad, Kochi. NGIL is a joint venture of Nitta Gelatin Inc. Japan and the Kerala State Industrial Development Corporation Ltd (KSIDC). This project is a part of the announcement made by this Japanese MNC to invest Rs 200 crores in Kerala, during the last visit of the Chief Minister of the State to Japan.

Welcoming the investment, the Chief Minister said that the State of Kerala has had a very strong relationship with this Japanese Group and expressed happiness that the Company has honoured the commitment that was made to him when he visited Japan. He said the Company is a shining example of successful partnership between the State and a global investor and offered all support for further expansion of its activities in Kerala.

"The industry friendly policies of successive governments in Kerala have given the Company the confidence to make further investments in the State. The availability of skilled labour in Kerala has been a critical factor for the success of our operations here. Our employee friendly policies have ensured a conducive industrial relations environment in our units in Kerala", according to Koichi Ogata, President of Nitta Gelatin worldwide and a Director of NGIL.

The Nitta Gelatin group is among the largest Gelatin producers in the world, catering to the food and pharma industry. The Company was Koichi Ogata founded 103 years ago in Osaka, Japan and its operations in Kerala will complete 50 vears in 2025.

"The demand for Collagen Peptide is growing worldwide as it significantly helps in promoting joint health and also beauty from within. A variant that helps in the management of Diabetes is also expected to be launched shortly. The expanded capacity will be able to successfully cater to this requirement" said Sajiv K. Menon, the Managing Director of NGIL. The project is expected to be commissioned by the middle of next year.

NGIL is a leading producer in India of pharma and food grade Gelatin, Ossein and Limed Ossein used by the Gelatin industry and Di Calcium Phosphate for the animal feed sector. Almost 50% of NGIL's products are exported to over 30 countries across the globe including USA, Canada, Japan, south Korea and to countries in Europe.

Shares of NITTA GELATIN INDIA LTD. was last trading in BSE at Rs. 968.10 as compared to the previous close of Rs. 975.70. The total number of shares traded during the day was 6356 in over 329 trades.

The stock hit an intraday high of Rs. 985.00 and intraday low of 960.00. The net turnover during the day was Rs. 6175722.00.

Source : Equity Bulls

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NITTAGELATININDIA INE265B01019 BhumiPooja CollagenPeptide ExpansionProject