Vijayawada, Nov 10: 3F Oil Palm, one of India’s leading oil palm companies has announced that it has laid the foundation stone for India’s 1st integrated Greenfield Oil Palm Processing complex in Andhra Pradesh, in continuation of the signing of Memorandum of Understanding (MoU) with the government for the sustainable development of farmers in the state.
The Bhoomi Puja for this Oil Palm processing complex in Ayyavaram village of Nallajerla Mandal in East Godavari was held in the presence of Agriculture Minister Kakani Govardhan Reddy. Eluru MP Kotagiri Sridhar, MLAs Talari Venkat Rao, Kothari Abbaya Chowdary and MD & CEO, 3F Oil Palm Sanjay Goenka.
3F Oil Palm will be investing INR 250 Crotr towards this Oil Palm processing complex and it is likely to be fully functional within 18 months. The company has already acquired 75 acres of land on Dwaraka Tirumala Road for the project.
Sanjay Goenka said “We are embarking on a groundbreaking journey and poised to revolutionize India’s agri-business landscape with the establishment of the nation’s first Integrated Greenfield Oil Palm Processing Complex in Andhra Pradesh.
The facility is expected to produce 2,00,000 MT of refined oil per annum by FY25 onwards and will generate employment for 500 direct and 1000 indirect workers. This venture will, we believe, contribute tremendously to India’s self-sufficiency in palm oil production and processing.”
3F Oil Palm currently operates in the states of Karnataka, Assam, Chhattisgarh, Gujarat and Arunachal Pradesh, other than Andhra Pradesh, with a cultivation area spread over more than 55,000 hectares and five processing units.
