Ruchi Soya Industries Ltd has announced it will form a joint venture with Japanese edible oil major J-Oil Mills Inc. and Toyota Tsusho Corporation, one of the largest global trading companies of Japan.
Ruchi Soya will hold a 51 per cent stake in the joint venture while J-Oil and Toyota Tsusho will hold 26 per cent and 23 per cent, respectively.
The new venture will produce and market high quality, functional edible oils. It plans to start supplying products to institutional customers by the end of 2013 and launch consumer products for the Indian market in the second half of 2014.
Soya processing biz
The Ruch board has approved the sale and transfer of the soya processing business run at its Shujalpur plant in Madhya Pradesh to the proposed joint venture, which will be managed by representatives from all the three companies.
Dinesh Shahra, Managing Director, Ruchi Soya, said: “Ruchi Soya will provide raw materials and marketing and distribution assistance to the joint venture. J-Oil will provide technical assistance and Toyota Tsusho will provide management assistance for internal control and access to international markets.”