Recently, Andhra Pradesh chief minister YS Jagan Mohan Reddy inaugurated Godrej Agrovet's (GAVL) edible oil refinery at Chintalapudi, Eluru district. Set up at an estimated investment of INR 100 Crore and with a capacity of 400 tons per day, this is GAVL's first downstream project for value-added products in oil and fats. The facility near the company's Crude Palm Oil Mills will help cater to captive needs originating from the company's oil palm work in the southern states along with demand from other crude palm oil players in the region.
"The inauguration is a testimony to our endeavor to provide businesses prompt and necessary support as committed during the Andhra Pradesh Global Investors Summit (APGIS) 2023. In our quest to uplift the state and generate employment, we are confident that the state's unique geographic and climatic advantage coupled with robust infrastructure and skilled youth will attract more businesses," said Andhra Pradesh chief minister YS Jagan Mohan Reddy.
The company has 45,000 hectares of oil palm plantation area in Andhra Pradesh, and this new plant will have an extraction capacity of 400 tons per day.
Balram Singh Yadav, managing director, GAVL said, "GAVL is the largest oil palm processor in India and works directly with farmers for the entire lifecycle of their crop. Since the launch of the National Mission on Edible Oil - Oil Palm (NMEO-OP), in August 2021, the company had established a goal to add 60,000 hectares of additional oil palm plantations over the course of the next five years to support the long-term sustainable development of oil palm in India."
With the focus to provide knowledge and access to contemporary technologies, in January this year, GAVL introduced a ground-breaking initiative called Samadhan, a one-stop solution center that would provide a comprehensive package of knowledge, tools, services, and solutions to oil palm farmers. The company's partnership with the State Bank of India is expected to act as a catalyst to maintain juvenile gardens during the gestation period of the first 5 years.
"Samadhan aims to be the critical enabler in the Palm Oil industry and assist oil palm farmers in optimizing their yields by adopting the latest agricultural techniques and boosting their productivity. We are confident that through Samadhan we would be in a position to expand industry and aid farmer's prosperity," said Sougata Niyogi, chief executive officer – of Oil Palm, GAVL.
GAVL is one of India's largest diversified agribusiness companies. This investment was built on the INR 1000 crores investment in the state by the Oil Palm, Aqua Feed, and Dairy businesses. Present in the state for the last three decades, the company employs 6000 employees across all its businesses.
Commenting on the conducive business environment in the state, Rakesh Swami, group president of corporate affairs, at Godrej Industries said, "The Godrej Group has always believed in the philosophy of placing people and our planet alongside profits. And this new plant marks a significant milestone in our quest for Atmanirbharta and economic prosperity. With the state's impeccable support, we look forward to expanding our footprint in the state."