Companies

Edible oil maker GEF India to set up ₹300-cr refinery in Odisha

Sangeetha Chengappa Bengaluru | Updated on February 20, 2019 Published on February 20, 2019

GEF India’s proposal is the 600th investment proposal received by Odisha’s single window portal GO-SWIFT, since its launch 14 months ago. (File photo)

Odisha CM Naveen Patnaik to handover approval papers to company tomorrow

Gemini Edibles & Fats India Private Limited (GEF India) proposes to set up a vegetable oil refinery at the Tata Steel Industrial Park, Gopalpur, in Ganjam district of Odisha.

The Hyderabad-based company, which manufactures and markets edible oils and fats, proposes to set up a 396 kilotonnes per annum capacity unit for refined sunflower oil, palm oil and vegetable fats with a total investment of ₹300 crore. The facility spread over 25 acres, provide direct and indirect employment to over 525 people.

Submitted for preliminary project assessment on February 1, GEF India’s proposal is the 600th investment proposal received by Odisha’s single window portal GO-SWIFT, since its launch 14 months ago. The project is expected to be implemented within 12 months from the date of approval.

Product portfolio

GEF India’s product portfolio includes sunflower oil, rice bran oil, mustard oil, palmolein oil and vanaspati. The portfolio includes speciality fats for bakery products, chocolates and ice creams. The ₹4,122-crore company has two port-based manufacturing facilities at Krishnapatnam and Kakinada in Andhra Pradesh and markets its products under the ‘Freedom’ brand. The company will import crude oil through the Gopalpur port, for which it is in negotiation with Gopalpur Port management for the pipeline corridor.

“The Make in Odisha Conclave held in November last year has resulted in a slew of investment proposals. Due to significant ease of application and expeditious approval process, there has been a considerable increase in the number of investors wanting to set up their units in Odisha. We will continue to raise the bar for ease of doing business in the State and speedy implementation of projects” said Sanjeev Chopra, Principal Secretary, Industries Department and Chairman, Industrial Promotion & Investment Corporation of Odisha (IPICOL).

He said, the State Level Single Window Clearance Authority approval will be handed over by Naveen Patnaik, Chief Minister of Odisha, to the CEO of GEF India on February 19.

Odisha has seen over 118 large manufacturing projects approved with employment potential of 1,28,572 in the past four years alone in the State.