Godrej Agrovet invests Rs 300 crore on palm oil complex in Telangana

Godrej Agrovet Ltd (GAVL) announced in an exchange filing that it will invest Rs 300 crore over the following three to four years in the construction of an integrated palm oil complex in Telangana.

The oil complex, which will be built in the Khammam district, will soon include a refinery and a mill for producing crude palm oil. In addition to the seed manufacturing and research facility, the company will also set up a nursery with an annual capacity of up to 7 lakh saplings.

The foundation stone for the complex was laid on Saturday.

 

“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 contributing to the nation’s deficit for edible oils,” said KT Rama Rao, Minister for Municipal Administration & Urban Development, Industries & Commerce, and Information Technology, Telangana.

At the complex, the company will be set up India’s first-ever seed garden. This seed garden can provide seeds for the planting of 90,000 acres of area and is expected to help Telangana in achieving its oil palm plantation targets.

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