Godrej Agrovet inks pact with AP govt to set up edible oils refining plant
Godrej Agrovet Ltd has proposed to invest Rs 100 crore to set up a refining plant for edible oils in Andhra Pradesh.
In a statement, the company said it has signed a Memorandum of Understanding (MoU) with the state government on the sidelines of Andhra Pradesh Global Investors Summit (APGIS) 2023.
As a part of the MoU, Godrej Agrovet's oil palm business will be making an estimated investment of Rs 100 crore to set up a manufacturing facility for edible oil refinery and solvent extraction plant.
The company already has 45,000 hectare area of oil palm plantation area in Andhra Pradesh (AP). The proposed new plant will have a projected refining capacity of 400 tonnes per day and will be set up in Seethanagaram, Eluru District in AP.
This is company's first downstream project for value-added products in oil and fats.
Balram Singh Yadav, Managing Director of Godrej Agrovet, said, "The MoU is in line with Godrej Agrovet's long-term strategy to be the catalyst in India's oil mission thro