GEF India likely to invest Rs 500 crore to ramp up edible oil business
Deccan Chronicle.| dc correspondent
Investments to add 1,000 metric tonnes capacity per day to the company
The company, whose Freedom Refined Sunflower Oil has been adjudged the top brand in the sunflower oil segment in India by volume, operates units in Kakinada and Krishnapatnam with a combined capacity of 2615 MT per day. Representational image/By arrangement
Hyderabad: Gemini Edibles & Fats India Ltd (GEF India), the market leader in refined sunflower space, is likely to invest up to Rs 500 crore to expand its presence in the edible oil sector in the country, said a top official of the company.
According to Pradeep Chowdhry, the managing director of GEF India, the company plans to add 1,000 metric tonne per day capacity.
The company, whose Freedom Refined Sunflower Oil has been adjudged the top brand in the sunflower oil segment in India by volume, operates units in Kakinada and Krishnapatnam with a combined capacity of 2615 MT per day.
He said GEF India achieved top ranking volume though it is present only in the states of Andhra Pradesh, Telangana, Karnataka, and Odisha.
According to Chowdhry, "The company is looking at strategic expansion and in the next few years. We intend to launch in Tamil Nadu and Kerala which have high volumes of sunflower oil consumption. Further, we would expand our presence to the northern and eastern states of India such as Chhattisgarh, Jharkhand, Uttar Pradesh, and West Bengal."
He said the company has been focused on oils that are considered healthy. Oil varieties such as sunflower, mustard, groundnut, and rice bran are perceived to be healthier than palm oils and their fractions. "Sunflower oil is considered suitable for Indian cuisines as it can hold onto its nutritional content at higher temperatures," he said.