US Exim Bank to lend $8.5 million to Himalya International

NEW DELHI: Food processing company Himalya International on Monday said private sector lender US Exim Bank will lend USD 8.5 million (around Rs 40 crore) at a concessional rate of interest.

"US Exim Bank issues 'Letter of Interest' for lending USD 8.5 million to Himalya International at concessional rate of 4.37 per cent per annum," Himalya International said in a filing to the Bombay Stock Exchange.

The company said the amount will be invested in its Rs 120-crore plant for almond processing, and frozen and freeze dried berries near Delhi in Rajasthan.

For setting up the plant, the company has already acquired 32 acres of land in Rajasthan.

"Almonds and frozen and freeze dried berry fruits shall be imported from California, the US and shall be processed and value added for domestic Indian market and for exports to Gulf countries and South Asian countries," it added.