Thursday, June 16, 2016

Ruchi Soya receives approval from Karnataka Govt. to set up palm oil processing units

Ruchi Soya had entered into a MoU with the state of Karnataka in November 2015 for setting up these facilities. Ruchi Soya will set up multi-location palm fruit & Kernel processing units producing edible oil, palm kernel cake, palm kernel oil and solar power. The units will be set up at multiple locations in Dakshina Kannada district. The company will also set up a nursery to produce high-yielding varieties of plant species and creating awareness about oil palm cultivation. The new facilities, when ready, will offer employment to over 17,000 people including farmers, contract farming and agricultural workers, the company claims.

Dinesh Shahra – Founder and Managing Director, Ruchi Soya Industries Limited said, “ This proposed new integrated platform is expected to have significant value for both the Indian farmer, in terms of efficient handling of produce and sales realization, as well as for the Indian consumer, who will stand to gain from an increased range of high quality finished products.”
Currently, the company has procurement rights in palm planted area of over 2,00,000 hectares; including 4000 hectares in Karnataka.