Godrej Agrovet Limited’s (GAVL) Oil Palm business today announced that the company will be setting up an Integrated Palm Oil Complex in the state of Telangana, the company announced through an exchange filing.
To be set up in the Khammam district, it will consist of a state the of art Crude Palm Oil mill along with the provision of setting up 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 & research unit.
At the complex, GAVL will be setting up first-ever seed garden in India. This seed garden can provide seeds for the planting of approximately 90,000 acres of area and shall help Telangana state to achieve targets for oil palm plantation.
GAVL will be investing Rs 300 Crore over the next 3-4 years in setting up the integrated palm oil complex. Additionally, through its Samadhan Centers – a one stop solution for oil palm farmers, the company would also provide advisory 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’s partnership with the State Bank of India would also support Oil Palm Plantation farmers during the gestation period.
With 65,000 hectares of palm oil under cultivation across the country, GAVL plans to increase cultivation to 1.2 Lac hectares by 2027.