Gemini Edibles and Fats to invest Rs 400 crore in Telangana, set up oil refinery
Hyderabad: Riding on the State government’s focus on alternate crops like palm and other oil seeds, Hyderabad-based Gemini Edibles and Fats India (GEF) has decided to set up an oil refinery in Telangana at a cost of Rs.400 crore and create employment for 1,000 people, IT and Industries Minister KT Rama Rao said here on […]
Hyderabad: Riding on the State government’s focus on alternate crops like palm and other oil seeds, Hyderabad-based Gemini Edibles and Fats India (GEF) has decided to set up an oil refinery in Telangana at a cost of Rs.400 crore and create employment for 1,000 people, IT and Industries Minister KT Rama Rao said here on Wednesday.
“Happy to announce that Gemini Edibles & Fats India Ltd, a JV of Golden Agri International (GAR) Singapore and maker of edible oils under @FreedomOil_In will be investing Rs 400 Crore in Telangana to set up a refinery,” he said in a tweet, tagging Invest Telangana, and Akhil Gawar, Director-Food Processing (Government of Telangana).
Telangana has already set in motion four revolutions under the leadership of Chief Minister K Chandrashekhar Rao (2nd Green Revolution, Blue Revolution, Pink Revolution, White Revolution). The State has set itself an ambitious goal of cultivating oil palm in 20 lakh acres thereby embarking on a Yellow Revolution, he said.
The investment of Gemini Edibles will play an important role in increasing edible oil output from Telangana and will also help local oilseed farmers, the Minister announced after Pradeep Chowdhry, Managing Director of Gemini Edibles and Fats, met him on Wednesday.
Earlier, the company said it planned to set up a 1,000 tonne per day capacity plant. This will be the first of its kind plant coming up in the landlocked State as its three other plants are port-based since it imports crude oil for refining.
“Telangana planned palm cultivation in a big way. Plantations are underway and they will come to fruition in about seven years. We will have enough opportunity to process edible oils in Telangana itself,” Chowdhry had said earlier.
It will take about two years for the manufacturing facility to be ready and it will be in a position to handle sunflower, cotton, palm and rice bran.
