Gemini Edibles and Fats India (GEF) has decided to double its capacity to 50,000 tonnes a month from the present capacity of 25,000 tonnes, in the next couple of years.
The refined sunflower oil company with a turnover of Rs 4,000 crore will spend about Rs 750 crore to set up two processing units in Tamil Nadu and Odisha.
The plants will have a capacity of 1,100 tonnes a day each, and each facility will cost about Rs 240 crore.
Speaking to BusinessLine, Pradeep Chowdhry, MD of GEF, said, “Besides, we will expand the capacity at our Kakinada plant to 1,500 tonnes from the present 400 tonnes a day,” Chowdhry added that the expansion plan would be funded through internal accruals and debt.
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