Godrej Agrovet to invest Rs 300 cr in TS
To set up Integrated Palm Oil Complex in Khammam over next 3-4 years
image for illustrative purpose
Godrej Agrovet Limited’s (GAVL) Oil Palm business announced that the company will be setting up an Integrated Palm Oil Complex in Telangana. To be set up in Khammam district, it will consist of a state the of art crude palm oil mill along with the provision of setting up a refinery in the near future.
GAVL will be investing Rs 300 crore over the next 3-4 years in setting up the integrated palm oil complex. The company will also establish a nursery with a capacity of up to 7 lakh saplings per year in addition to the seed production & research unit.
On the occasion of laying the foundation stone for the new mill, Telangana Industries minister KT Rama Rao said, “Telangana’s ambitious oil palm mission aims to bring 20 lakh acres under cultivation across the State. The mission will improve income for more than 5 lakh farm households while at the same time contributing to the nation’s deficit for edible oils. Along with being the rice bowl for the country, the State is all set to become the largest edible oil producer in India. We are delighted to partner with a strong and reliable partner like Godrej Agrovet in this endeavour. Their expertise in the oil palm sector will definitely help us achieve our goals of unleashing a yellow revolution.”
Balram Singh Yadav, Managing Director, GAVL said, “We are thankful to the State government for creating an eco-system and giving us an opportunity to contribute to nation’s journey of reducing its dependency on oil palm imports in the coming years.”
“Leveraging our expertise of more than three decades in the oil palm business, we intend to handhold oil palm farmers by providing them access to quality seedlings and nursery. With our plans of commissioning of Crude Palm Oil mill in the coming years, it is our honor to set up country’s first integrated palm oil complex in the state of Telangana,” he further added.
Additionally, through its Samadhan Centers – a one stop solution for oil palm farmers, the company would also provide advisory services on best practices / modern technologies, farm inputs and services under one roof.
The company’s partnership with the State Bank of India would also support Oil Palm Plantation farmers during the gestation period.
