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HomeNewsGodrej Agrovet to invest INR 300 Crore in integrated palm oil complex...

Godrej Agrovet to invest INR 300 Crore in integrated palm oil complex in Telangana

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Godrej Agrovet Ltd (GAVL) on Saturday unveiled its ambitious plan to develop an integrated palm oil complex in Telangana. This project involves a substantial investment of INR 300 crore over the next 3-4 years. Located in the Khammam district of Telangana, the palm oil complex will encompass 125 acres of land and will feature a crude palm oil mill. Additionally, GAVL has expressed its intention to potentially establish a refinery in the near future, as stated in their official announcement.

In addition to the seed production and research unit, the company will also set up a nursery with the capacity to cultivate up to 700,000 saplings annually, as indicated.

“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, Telangana is all set to become the largest edible oil producer in India,” Telangana Municipal Administration and Urban Development, Industries and Commerce and Information Technology minister K T Rama Rao said.

He expressed that GAVL’s proficiency in the oil palm industry will assist the state in realizing its aspirations for a “yellow revolution.”

Over the course of the next 3-4 years, GAVL intends to invest INR 300 crore in establishing the integrated palm oil complex and expanding its Samadhan Centers, which serve as a comprehensive solution hub for oil palm farmers.

The company will offer advisory services encompassing best practices and modern technologies, as well as a wide range of farm inputs including fertilizers, drip irrigation systems, pesticides, seeds, and harvesting tools, all conveniently available under a single roof.

The statement also highlighted that the company’s collaboration with the public sector bank, State Bank of India, would provide crucial support to oil palm plantation farmers during the initial gestation period.

At present, GAVL has 65,000 hectares of palm oil cultivation across the nation and aims to expand this to 1.2 lakh hectares by the year 2027.

“… 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 honour to set up the country’s first integrated palm oil complex in Telangana,” GAVL Managing Director Balram Singh Yadav said.

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