3F Oil Palm Invests ₹250 Crore in Integrated Processing Complex in Andhra Pradesh

3F Oil Palm, a prominent palm oil producer, has unveiled plans to establish an integrated greenfield oil palm processing complex in Andhra Pradesh, backed by an investment of ₹250 crore. The company recently formalized an agreement with the Andhra Pradesh Government, solidifying its commitment to creating this complex within the state.

This strategic venture forms an integral part of 3F Oil Palm's ₹550-crore initiative, aimed at fostering oil palm cultivation and processing within Andhra Pradesh. The prospective facility is expected to create employment opportunities for approximately 1,500 individuals, as confirmed by a senior company executive.

The official ground-breaking ceremony for the project took place on Wednesday at Ayyavaram village, situated in the East Godavari district of Andhra Pradesh. Kakani Govardhan Reddy, the Minister for Agriculture, Cooperation, Marketing, and Food Processing in Andhra Pradesh, graced the event with his presence.

Sanjay Goenka, the Managing Director and Chief Executive Officer of 3F Oil Palm, revealed that the new processing complex is set to become operational within the next 18 months. A land parcel spanning 75 acres has been secured for this ambitious project.

"The facility is expected to produce two lakh tonnes of refined oil per annum by the end of the 2024-25 financial year. It will generate employment for 500 direct and 1,000 indirect workers," stated Goenka.

In addition to Andhra Pradesh, 3F Oil Palm currently has operations in several Indian states, including Karnataka, Assam, Chhattisgarh, Gujarat, and Arunachal Pradesh, collectively encompassing a cultivation area exceeding 55,000 hectares and featuring five processing units. This new venture underscores the company's commitment to promoting sustainable palm oil cultivation and processing, further reinforcing its position in the industry.

HBL