Godrej Agrove Ltd (GAVL) is setting up an integrated palm oil complex in Telangana and will invest Rs 300 crore over the next 3-4 years, the company said in an exchange filing.
The oil complex will be built in the Kaman region and will include a palm oil plant and a refinery in the near future. In addition to seed production and research units, the company will set up a nursery with the capacity to plant 700,000 saplings annually.
The foundation stone for the complex was laid on Saturday.
“Telangana’s ambitious oil palm mission aims to cultivate 2 million acres of oil palm across the state. The mission will enhance the income of over 5 lakh farmers while contributing to the national edible oil shortage.” Telangana Municipal Administration and Urban Development, said KT Rama Rao, Minister of Industry and Commerce and Information Technology.
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The company will set up India’s first seed garden at the complex.The seed orchard, which can provide seeds for 90,000 acres of cultivation area, is expected to help Telangana achieve its oil palm cultivation targets
Balram Singh Yadav, managing director of GAVL, said the company will help oil palm growers by providing them with quality seedlings and nurseries.
The company’s Samadhan center will provide consultancy services on best practices, modern technology, agricultural inputs such as fertilizers, drip irrigation, pesticides, seeds and harvesting tools and one-stop services. The company has a partnership with the State Bank of India to provide support to oil palm plantation farmers.
GAVL plans to increase the country’s palm oil cultivation area to 120,000 hectares by 2027 from the current 65,000 hectares.