Hyderabad-based the Freedom oil brand, Gemini Edibles & Fats India Pvt Ltd, is planning to set up an edible oil manufacturing plant in the Gopalpur Industrial Park (developed by the Tata Steel Special Economic Zone Ltd.). The proposed plant will entail an investment of Rs 300 crore and have a capacity of 3.96 lakh tonne per annum. The plant will manufacture refined sunflower oil, refined palm oil and vegetable fats. The company is planning to fund the project by Rs 150 crore- equity and a matching term loan.
The unit will spread over an area of 25 acres of land in the Domestic Tariff Area (DTA) of the industrial park. The Gopalpur Industrial Park spanning across 2900 acre is split into SEZ and DTA. Gemini had applied the project proposal through the online portal of the state government earlier. And the proposal was already obtained the in-principle nod from the State Level Facilitation Cell (SLFC).
The company is planning to import crude sunflower oil from Argentina, Ukraine and Russia to produce edible oil. Crude palm will be sourced from Malaysia and Indonesia. These will be imported through Gopalpur port. The company already initiated talks with the port management. The unit will commence production with in a year’s time. The proposed plant will employ around 525 people.
To operate the edible oil unit, the company plans to import crude sunflower oil from Argentina, Ukraine and Russia. Crude palm oil will be sourced from Malaysia and Indonesia. The oil will be imported through the Gopalpur port for which Gemini Edibles is reportedly in talks with the port management. The planned edible oil unit is expected to start production in 12 months and will employ 525 people. The proposal has already obtained the in-principle nod from the State Level Facilitation Cell (SLFC).