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3F Oil Palm, a leading palm oil manufacturer, will set up a ₹250-crore integrated processing factory and refinery in Arunachal Pradesh.
A groundbreaking ceremony will be held on September 30, which is expected to be attended by top officials from the Union and State governments and farmers. “We have taken a decision to set up the factory in Arunachal Pradesh in tune with the National Mission on Edible Oils - Oil Palm (NMEO-OP) that seeks to achieve Aatmanirbharta in edible oils,” Sanjay Goenka, Chief Executive Officer and Managing Director of 3F Oil Palm Limited, said.
“Since the plantations are at a nascent stage, our factory will be running at extremely low capacity utilisation. The primary reason for expediting this investment is to build farmer confidence so that they are encouraged to take up oil palm cultivation at a large scale,” he said in a statement on Tuesday.
1st phase by Sept 2023
The factory has acquired 120 acres of land for the project at Roing in lower Dibang Valley. “We acquired the land parcel in February and secured all the approvals,” he said.
The first phase of the factory, which will be operational by September 2023, will employ 300 people. The company has an area of 2,000 hectares under cultivation with 500 farmers joining the network.
With an aggregate acreage of about 35,000 hectares of plantation, the company had recently announced plans to increase the acreage to 1.50 lakh hectares in the next seven years.
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