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HomePosts Tagged "Sanjay Goenka"
Company News, India, Oilseeds, Sustainability

The company has already acquired 75 acres of land in Nallajerla Mandal for setting up its greenfield integrated Oil Palm Processing complex.

3F Oil Palm, one of India’s leading oil palm companies, signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh (AP) for the sustainable development of farmers in the state with a significant investment of Rs 550 Crores in Oil Palm cultivation. The MoU was signed by Y.S. Jagan Mohan Reddy, Chief Minister of Andhra Pradesh, and Sanjay Goenka, Managing Director and CEO, of 3F Oil Palm.

This landmark investment reaffirms 3F Oil Palm’s commitment to fostering economic growth, empowering local communities, and promoting environmentally responsible agricultural practices in the Oil Palm industry.

During the MoU signing, Kakani Govardhan Reddy, State Agriculture Minister, and Gudivada Amarnath, Minister for Industries, Infrastructure, Investment, and Information Technology, were also present.

3F Oil Palm was the first company to commence operations in the state and has since developed more than 25,000 hectares of plantations, bringing together more than 50,000 farming families. 

The strategic partnership is expected to contribute significantly to the development of the region as it will help empower existing Oil Palm farmers as well as bring in new prospective farmers into the fold of Oil Palm cultivation. 3F Oil Palm will invest in nursery activities, area expansion, crop maintenance, farmer services, fresh fruit bunches (FFB) collection and handling, R&D facilities, and a green field integrated palm oil processing complex in Ayyavaram village, Nallajerla Mandal, East Godavari.

Due to 3F Oil Palm’s continued investment in the Oil Palm plantation space, the company has been allotted an additional 24 zones in the five districts of Tirupati, Chittoor, Guntur, Nandyal and Krishna with a potential area of over 1,00,000 Ha.

A senior state government official, said: “Palm oil cultivation in Andhra Pradesh stands as a beacon of economic empowerment, contributing over 85 per cent of India’s production. It is a vital engine of growth, helps in reducing import dependency, creating jobs, and fostering prosperity in rural communities. This sector not only fuels GDP but also elevates the lives of farmers by way of increased farmer income. We are positive that this groundbreaking project will revolutionise the oil palm cultivation landscape of the state.”

Sanjay Goenka, Managing Director and CEO, 3F Oil Palm, said, “We are enthusiastic to embark on this transformative journey with the farmers of Andhra Pradesh. Our milestone investment of Rs. 550 crore not only signifies our confidence in the potential of the region but also our commitment to sustainable and inclusive development. Together, we aim to create a thriving ecosystem that benefits all stakeholders. We are particularly elated as this MoU reaffirms the state government’s trust in our ability to deliver on our promise, to empower our farmers to make India self-reliant in Edible Oils.”

3F Oil Palm currently operates in the states of Karnataka, Assam, Chhattisgarh, Gujarat and Arunachal Pradesh, other than Andhra Pradesh, with a cultivation area spread over more than 55,000 hectares and five processing units.

The company has already acquired 75 acres

Company News, India, Oilseeds, Sustainability

The initiative aims to uplift farming communities and contribute to India’s self-reliance on edible oils

3F Oil Palm in association with the Assam government, recently organised a ceremonial plantation of Oil Palm under the National Mission on Edible Oil – Oil Palm (NMEO-OP) at Bokanala in Assam’s Lakhimpur district. State Agriculture Department and 3F Oil Palm mark the first Oil Palm Plantation under the NMEO-OP in Assam. 

“The initiative aims to uplift farming communities and contribute to India’s self-reliance on edible oils. It emphasises the government’s commitment to the development and progress of the Oil Palm Plantation sector,” according to the official statement. 

The ceremony is being hosted by 3F Oil Palm, a leading player in the Oil Palm industry that has already established a state-of-the-art oil palm nursery at Bokulbari village in Lakhimpur district and another nursery in the pipeline at Chirang. 

In recognition of their commitment towards the Oil Palm development and processing industry, 3F Oil Palm has already signed an MOU with the Assam government in December 2022 and aims to develop Oil Palm plantations and processing facilities in sub-zone 1-b and V-a, encompassing Lakhimpur and Chirang districts, as part of the NMEO-OP, the statement added.

Sanjay Goenka, Managing Director and CEO of 3F Oil Palm said, “The ceremonial plantation of Oil Palm under the NMEO-OP is a significant step towards the development of the Oil Palm industry in the state of Assam. It gives me immense pride to note that upon signing the MoU with the government in December 2022, we are the first company to have commenced our investment and set up a state-of-the-art nursery and commence plantation activities through this ceremonial plantation. 

“We are committed to contributing to the progress of this sector in Assam and we aim to cover over 20,000 Ha of the area under Oil Palm over the next 5 years”

3F Oil Palm has ambitious plans to develop 23,500 hectares of Oil Palm plantations over the next five years, the statement added. The company already has an upcoming greenfield integrated Oil Palm processing unit in Arunachal Pradesh. 

The initiative aims to uplift farming communities

Company News, India, Oilseeds

Phase 1 of the factory is expected to be commissioned by September 2023

3F Oil Palm Pvt. Ltd, a leading oil palm company in India, kicked off its investment in the northeast with the ‘Bhumi Puja’ for an integrated Oil Palm factory in Arunachal Pradesh. The factory ground-breaking ceremony took place at the factory site at Roing in lower Dibang Valley. The event was attended by senior officials from Arunachal Pradesh government and the chief guest for the event was Tage Taki, Minister of Agriculture. The company had already acquired 120 acres of land for the project in the month of February. All necessary approvals and statutory clearances pertaining to the land were also obtained. The integrated Oil palm project will consist of a State-of-the-art Oil palm factory (Palm Oil Processing and Refining plant), a Zero discharge effluent plant, a power plant based on palm waste, and other buildings and godowns for support functions. This addition of this factory will supplement the existing company operations that include Nursery Operations, Area Expansion/ Crop Maintenance, FFB Harvesting and Collection and other ancillary farmer services. The factory is set to be developed in 2 phases and phase 1 is expected to be commissioned by September 2023. Phase 1 of the project is expected to generate local employment of over 300 people.

3F Oil Palm Pvt Ltd is a front runner and pioneer in the Oil Palm Development program in Arunachal Pradesh with total Oil Palm Area under planting of around 2,000 hectares that is spread across a farmer base of 500 Farmers. All the area under Oil Palm is linked to satellite technology with 100 per cent traceability. The company is the first in the state to import high-quality hybrid variety imported seedlings from various countries, for the benefit of the farmer. The company is also the first to be allotted a fertiliser distribution license for timely and cost-effective supply of fertilizers to the farmers. Both of these initiatives are expected to significantly increase farmer yields and promote ease of planting. With all of these firsts and the additional traction created by the Oil Palm Factory, the company is expected to add 5000 Ha per year over the next 5 years.

Speaking on the occasion, Sanjay Goenka, CEO and MD, 3F Oil Palm Limited, said, “Since the plantations are at a nascent stage, our factory will be running at extremely low-capacity utilization. The primary reason for expediting this investment is to build farmer confidence so that they are encouraged to take up up Oil Palm cultivation at a large scale.”

3F Oil Palm has a strong presence with factories and contract plantations in Andhra Pradesh, Karnataka, Chhattisgarh, and Gujarat and has a very strong growth plan for the Northeastern region – Arunachal Pradesh and Assam.

Phase 1 of the factory is expected