Hyderabad-based 3F Oil Palm to invest Rs 250 crore in Arunachal Pradesh

The project will have a palm oil processing and refinery, an effluent plant, a power plant-based on palm waste and other support functions.

Hyderabad: Hyderabad-based oil palm developer 3F Oil Palm said it will invest Rs 250 crore to set up an integrated oil palm factory in Arunachal Pradesh. The company had acquired 120 acre for the project in February. Approvals and statutory clearances pertaining to the land were obtained.

The project will have a palm oil processing and refinery, an effluent plant, a power plant-based on palm waste and other support functions. The factory will be developed in two phases and the first phase is expected to be commissioned by September next year and generate local employment to over 300 people.

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3F has its operations in about 2,000 hectare and works with 500 farmers. It imported hybrid variety seed sprout. It has a fertilizer distribution license for timely supply of fertilizers to the farmers.

The factory will be running at low capacity utilization as the plantations are at a nascent stage. The effort is to build farmer confidence, said Sanjay Goenka, CEO and MD of 3F.

3F has contract plantations and factories in Andhra Pradesh, Karnataka, Chhattisgarh, and Gujarat.