GEF plans 2nd unit in KKD

GEF plans 2nd unit in KKD
Highlights

With a present capacity to manufacture 400 ton of sunflower refined oil per month at its Kakinada plant, the Gemini Edibles and Fats India Pvt Ltd GEF India, is setting up another unit by March 2019, with a production capacity of 1,100 tons The 25acre new facility will come up with an investment outlay of Rs 240 crore

Hyderabad: With a present capacity to manufacture 400 ton of sunflower refined oil per month at its Kakinada plant, the Gemini Edibles and Fats India Pvt Ltd (GEF India), is setting up another unit by March 2019, with a production capacity of 1,100 tons. The 25-acre new facility will come up with an investment outlay of Rs 240 crore.

Speaking on the sidelines of the launch of one-litre ultra-modern SKU (stock keeping unit) of their flagship brand, ‘Freedom’ refined sunflower oil on Wednesday, Pradeep Chowdhry, MD, GEF India, said: “Our sunflower oil brand has a market share of 55 per cent in Andhra Pradesh, 36 per cent in Telangana and 48 per cent in Orissa.

The company has a 42 per cent share in the rice bran oil market in AP and TS. With the growing demand for our products, we have decided to double our production capacity. Hence, we are setting up three manufacturing units, one each of 1,100 tons capacity at Kakinada, Orissa and Tamil Nadu, at a total cost of Rs 750 crore.”

The company expects to grow by 20 per cent this year and is looking towards a growth of 50 per cent in FY 19-20, post the commissioning of its plant at Kakinada. GEF clocked a total revenue of over Rs 4,000 crore for the year 2017-18 and has a revenue target of Rs 5,000 crore for FY 18-19. The edible oil industry is growing at five per cent per annum with the sunflower refined oil segment growing at nearly 15 per cent per year.

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