Business Daily from THE HINDU group of publications
Tuesday, Mar 25, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Mar 25, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Diversification Agri-Biz & Commodities - Oilseeds & Edible Oil Emami Group to foray into edible oils
Our Bureau Kolkata, March 24 Emami Group of companies, now in the midst of an expansion-diversification mode, plans to spend Rs 250 crore on its edible oils unit in Haldia. Talking to Business Line here on Monday, Mr Aditya Agarwal, Director, Emami Ltd, said the bio-diesel plant in Haldia, set up at an initial investment of Rs 150 crore, within the next 10 days will begin production of palm oil, soya oil and rice bran oil. As for the foray into edible oils, Mr Agarwal said the business of bio-diesel, launched with an investment of Rs 150 crore, was gradually becoming somewhat unviable, and hence the expansion-diversification drive. He said as per the proposed investments initially, the plan was to produce 800 tonnes of palm oil, 600 tonnes of soya oil and 200 tonnes of rice bran oil per day. “We will initially sell the edible oils in bulk to industries that are into production of chips and biscuits.” Clarifying that the branding exercise would begin shortly, Mr Agarwal said the distinctive Emami brand of edible oils will be launched later, depending on the feedback from trade and the initial success of sale through a bulk-selling format. Projects on handAsked about the proposed Rs 2,000-crore investments on cement and a captive power project, for which an MoU has recently been signed with the Government of Chhattisgarh, Mr Agarwal said the blueprints were still not ready. The Rs 1,500-crore personal and healthcare products major, which started as a manufacturer of beauty products, toiletries and cosmetics in 1974, now has production units spread across States like West Bengal, Assam, Orissa, Pondicherry, Gujarat, Uttarakhand and Himachal Pradesh. More Stories on : Diversification | Oilseeds & Edible Oil
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