3F Oil Palm initiates Rs 250-cr oil palm unit in AP
The plant is scheduled to be fully functional within 18 months and will produce 2 lakh MT of refined oil per annum by FY25
Prominent palm oil company 3F Oil Palm announced on Thursday the laying of the foundation stone for India’s first integrated greenfield oil palm processing complex in Andhra Pradesh, following the signing of a memorandum of understanding (MoU) with the state government for the sustainable development of farmers.
The bhoomi puja for the oil palm processing complex in Ayyavaram village in Nallajerla mandal of East Godavari was held in the presence of Kakani Govardhan Reddy, Minister for Agriculture, Cooperation, Marketing and Food Processing; Kotagiri Sridhar, Eluru MP; Talari Venkatrao, Gopalapuram MLA; Kothari Abbaya Chowdary, Denduluru MLA and Sanjay Goenka, MD & CEO, 3F Oil Palm. Over 500 farmers attended the event from the surrounding villages.
According to a press release, 3F Oil Palm will be investing Rs 250 crore towards the new oil palm processing complex and it is scheduled 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, MD and CEO of 3FOil Palm, 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.”
