3F Oil Palm Private Limited will set up the country’s first integrated greenfield oil palm processing complex at Ayyavaram village of Nallajerla mandal of East Godavari . The foundation stone for the project was laid on November 9 (Thursday).
Agriculture Minister Kakani Govardhan Reddy, Eluru MP Kotagiri Sridhar, MLAs Talari Venkat Rao (Gopalapuram) and K. Abbayya Chowdary (Denduluru), and 3F Oil Palm MD and CEO Sanjay Goenka and around 500 farmers participated in the Bhumi Pooja, said a press release.
The company is investing ₹250 crore in the oil palm processing complex which is targeted to be made fully functional in one and a half years. It has already acquired 75 acres of land on the Dwaraka Tirumala Road for the project.
Speaking on the occasion, Mr. Goenka said that the project was poised to revolutionise India’s agri-business landscape and it was expected to produce 2,00,000 metric tonnes of refined oil per annum by 2024-2025 financial year.
It would contribute tremendously to India’s self - sufficiency in palm oil production and processing.
At present, 3F Oil Palm is operating in Karnataka, Assam, Chhattisgarh, Gujarat and Arunachal Pradesh other than Andhra Pradesh, with a cultivation area spreading over 55,000 hectares.
