Godrej Agrovet (GAVL) will invest Rs 300 crore over the next 3-4 years to set up an integrated palm oil complex, including a crude palm oil mill, in Telangana.
GAVL is also planning to increase area of palm oil cultivation in the country to 120,000 hectare by 2027 from the present 65,000 hectare.
The complex, being set up by the company’s oil palm business in Khammam district, would have the provision of a refinery in the near future. The firm will also set up a nursery with the capacity of up to 700,000 saplings per year, the company said in a statement.
“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,” GAVL MD Balram Singh Yadav said.
The foundation stone for the complex was laid on Saturday.