Patanjali Foods Ltd lays foundation stone for Oil Palm Mill in Arunachal Pradesh

Patanjali Foods Limited (formerly known as Ruchi Soya Industries Limited) laid foundation stone for setting up Oil Palm mill at Industrial Growth Centre, Niglok, District - East Siang, Arunachal Pradesh today i.e. August 31st 2022. The foundation stone has been laid by Shradhye Acharya ji and Shri Tage Taki, Hon'ble minister of Agriculture, Government of Arunachal Pradesh.

In state of Arunachal Pradesh, we plan to undertake oil palm plantation on 38,000 ha area across 9 districts. We have already established 2 nurseries at Pasighat and Holangi and are in the process of establishing 3 more nurseries in Lower Siang District at Kherram, FTC and Dipa. This will give impetus to state's economy and will bring tremendous employment generation along with increase in local farmers' income.

Patanajali Foods has committed itself to Government's NMEO-OP program and plant to undertake large scale cultivation of oil palm plantation on 5 lakh ha area in India; out of which 3.2 lakh hectare area will be in North East region. Patnajali's NE Oil Palm Program will immensely benefit state's economy for over next 30 years, key benefits include: avg annual production of around 7.5 lakh MT palm oil, saving of about Rs. 10,500 crore of forex outgo annually and employment generation for nearly 5.8 lakh persons.

Patanjali Foods is one of the largest palm oil plantation companies in India. We have access to palm plantation in 55 districts across 11 states, namely Andhra Pradesh, Telangana, Karnataka, Gujarat, Odisha, Tamil Nadu, Chhattisgarh, Arunachal Pradesh, Assam, Mizoram and Tripura. We work with 43,000 farm families and have 60,000 ha area under palm plantation; we have 182 farmer information cum FFB procurement centres, 22 fertilizer godowns and 2 state of the art oil palm processing mills in Andhra Pradesh.

Patanjali Foods Limited, is a large diversified conglomerate with business interest across Edible oil and derivatives, Oil palm plantation, Food & FMCG and Nutraceutical business. In FY 2022, company generated revenue of Rs. 24,205 crore, registering growth of 48% compared to previous financial year.

Source : Equity Bulls

Keywords

PatanjaliFoods FoundationStone OilPalmMill Niglok ArunachalPradesh