Godrej Agrovet to invest ₹300 crore on palm oil complex in Telangana

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Godrej Agrovet Ltd (GAVL) is setting up an integrated palm oil complex in Telangana, with an investment of ₹300 crore over the next 3-4 years, the company said in an exchange filing.

To be set up in the Khammam district, the oil complex will consist of a crude palm oil mill along with a refinery in the near future. The company will also establish a nursery with a capacity of up to 7 lakh saplings per year in addition to the seed production and research unit.

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.

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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

Balram Singh Yadav, Managing Director, GAVL, said that the company will be handholding oil palm farmers by providing them access to quality seedlings and nursery.

The company’s Samadhan Centers will offeradvisory services on best practices, modern technologies, farm inputs (such as fertilizers, drip irrigation, pesticides, seeds, and harvesting tools) and services under one roof. The company has a partnership with State Bank of India to support oil palm plantation farmers during the gestation period.

GAVL has plans to increase the area under palm oil cultivation to 1.2 lakh hectares by 2027 from the current 65,000 hectares across the country.