Godrej Agrovet to set up oil plantation in Gujarat
Godrej Agrovet Ltd plans to bring 10,000 hectares of land under oil palm cultivation and also plans to set up an oil mill in Gujarat state. Total investment is to the magnitude of Rs. 100 crore. The company sees massive demand in India and an opportunity to substitute imports currently from Malaysia with local produce.
The company has identified Valsad, Navsari and Surat districts in Gujarat as areas where a large land bank is potentially available for cultivation. Godrej Agrovet is also planning to further expand and with 5,000 hectares of land in Mizoram under cultivation.
By INRnews Correspondent
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