Godrej Agrovet's first downstream project in AP to supplement oil palm plantation in the state
MUMBAI, India, July 13, 2023 /PRNewswire/ — 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 tonnes per day, this is GAVL’s first downstream project for value-added products in oil and fats. The facility near to the company’s Crude Palm Oil Mills will help cater 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 endeavour 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 tonnes 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 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 centre that would provide a comprehensive package of knowledge, tools, services and solutions to oil palm farmers. The company 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 Palm Oil industry and assist oil palm farmers in optimising their yields by adopting 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, CEO – Oil Palm, GAVL.
GAVL is one of India’s largest diversified agribusiness company. 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 conducive business environment in the state, Rakesh Swami, Group President Corporate Affairs, Godrej Industries Ltd 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.”
About Godrej Agrovet Limited
Godrej Agrovet Limited (GAVL) is a diversified, Research & Development focused food and agri-business conglomerate, dedicated to improving the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields. GAVL holds leading market positions in the different businesses it operates – Animal Feed, Crop Protection, Oil Palm, Dairy, Poultry and Processed Foods. GAVL has a pan India presence with sales of over a million tons annually of high-quality animal feed. Our teams have worked closely with Indian farmers to develop large Oil Palm Plantations, which is helping in bridging the demand and supply gap of edible oil in India. In the crop protection segment, the Company has strong presence in the B2B segment through its subsidiary Astec Lifesciences and through its extensive distribution, network pan-India delivers innovative agrochemical offerings catering to the entire crop life cycles. In Dairy, Poultry, and Processed Foods, the company operates through its subsidiaries Creamline Dairy Products Limited and Godrej Tyson Foods Limited. Apart from this, GAVL also has a joint venture with the ACI group of Bangladesh for animal feed business in Bangladesh.
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