Godrej Agrovet announces mega investment in Telangana’s oil palm industry
Godrej Agrovet Limited’s (GAVL) Oil Palm business is all set to revolutionize the palm oil sector in Telangana with the announcement of an Integrated Palm Oil Complex in the Khammam district. This groundbreaking initiative will include a cutting-edge Crude Palm Oil mill and, in the near future, a refinery. Additionally, Godrej Agrovet will establish a state-of-the-art nursery capable of producing up to 7 lac saplings annually, complemented by a seed production and research unit.
The foundation stone laying ceremony for the Crude Palm Oil mill witnessed the presence of notable dignitaries, including Shri K. T. Rama Rao, The Hon’ble Minister for Municipal Administration & Urban Development, Industries & Commerce, and Information Technology of Telangana; Burjis Godrej, Executive Director and COO – Crop Protection Business, Godrej Agrovet; Sougata Niyogi, CEO – Oil Palm, GAVL; and Rakesh Swami, Group President Corporate Affairs, Godrej Industries Limited.
K. T. Rama Rao, reflecting on Telangana’s ambitious oil palm mission, remarked, “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 at the same time contributing to the nation’s deficit for edible oils. Along with being the rice bowl for the country, Telangana is all set to become the largest edible oil producer in India. We are delighted to partner with a strong and reliable partner like Godrej Agrovet in this endeavor. Their expertise in the oil palm sector will definitely help us achieve our goals of unleashing a yellow revolution.”
As part of this ambitious project, Godrej Agrovet will establish India’s first-ever seed garden at the complex. This seed garden has the potential to supply seeds for approximately 90,000 acres, significantly aiding Telangana in achieving its oil palm plantation targets.
Balram Singh Yadav, Managing Director, Godrej Agrovet, expressed gratitude to the Government of Telangana and stated, “We are thankful to the Government of Telangana for creating an eco-system and giving us an opportunity to contribute to the nation’s journey of reducing its dependency on oil palm imports in the coming years. Leveraging our expertise of more than three decades in the oil palm business, we intend to handhold oil palm farmers by providing them access to quality seedlings and nursery. With our plans of commissioning of Crude Palm Oil mill in the coming years, it is our honor to set up the country’s first integrated palm oil complex in the state of Telangana.”
In a substantial financial commitment, Godrej Agrovet will invest INR 300 Crore over the next 3-4 years in establishing this integrated palm oil complex. The company’s Samadhan Centers, serving as comprehensive solutions for oil palm farmers, will offer advisory services on best practices and modern technologies, along with access to farm inputs and services, all under one roof. Additionally, Godrej Agrovet’s partnership with the State Bank of India will provide essential support to Oil Palm Plantation farmers during the gestation period.
With a current cultivation area of 65,000 hectares dedicated to palm oil across the country, Godrej Agrovet has ambitious plans to expand cultivation to an impressive 1.2 Lac hectares by the year 2027. This investment marks a significant stride towards enhancing India’s self-sufficiency in the palm oil sector.