HT Bureau

GUWAHATI, Aug 30: On Tuesday, Hyderabad-based 3F Oil Palm Pvt. Ltd. announced that it would kick off its investment in the north-east by setting up an integrated oil palm factory in Arunachal Pradesh. The foundation ceremony for the same is set to be held on September 30, next at Roing in Lower Dibang Valley. Notably, the company already has acquired 120 acres of land for the project, and all necessary approvals and statutory clearances about the land have been obtained. The integrated oil palm project will consist of a state-of-the-art oil palm factory (Palm Oil Processing and Refinery), a zero discharge effluent plant, a power plant based on palm waste, and other buildings and godowns for support functions. The addition of this factory will supplement the existing company operations that include nursery, area expansion/crop maintenance, FFB harvesting and collection, and other ancillary farmer services. The factory is set to be developed in 2 phases and phase 1 is expected to be commissioned by September 2023. Phase 1 of the project is expected to generate local employment for over 300 people.

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Speaking on the occasion, Sanjay Goenka, CEO, and MD, 3F Oil Palm Limited, said, “We are very delighted and excited about our upcoming integrated oil palm factory in Arunachal Pradesh. 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 on a large scale. Due to the proactive leadership of the Government of Arunachal Pradesh and the newly formulated NMEO (OP) policy, we believe that the state can be at the forefront of the Prime Minister’s vision of Aatmanirbharta in edible oils.”