Japan's Oriental Yeast Company invests Rs 900 crore in Maharashtra

New Delhi: Japan's Oriental Yeast Company has invested Rs 900 crore in India through its subsidiary to set up a yeast manufacturing plant in Khandala MIDC, Satara in Maharashtra.

The state-of-the-art facility by Oriental Yeast India (OYI) has installed a capacity of 33,000 million tonnes of fresh yeast in Phase I of its operations and caters to the growth of the bakery industry in India, said a company statement.

This facility will create over 1,000 job opportunities, which include direct employment of 200 people and 800 indirect jobs through local suppliers across the value chain, it added.

OYI, a subsidiary of OYC Japan, is a significant player in providing yeast products to bakeries, distilleries and other food segments in India and international markets.

President of OYC Japan and Chairman of Oriental Yeast India Masashi Nakagawa said: "India is the cornerstone of our global strategy, certainly one of the top focus markets from OYC perspective. This new plant is a testimony of our commitment to India and is an important milestone for our international expansion." The plant will offer innovative yeast products and services to cater to the burgeoning demand of large food chains, local bakers and other allied industries.

Moreover, this plant will reduce dependence on yeast imports into India, he added.

OYI manufactures yeast and allied bakery ingredients products, which are traded under the Kobo brand.

OYC was founded in 1929 as Japan's first bakers' yeast manufacturer and since then has expanded into providing a variety of food products, bakery ingredients and other biotechnology-allied products. OYC has become the largest yeast-producing company in Japan.