Announces Oil Palm plantation development and processing across AP
One of India’s leading oil palm companies, 3F Oil Palm, recently 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 INR 550 Crores in Oil Palm cultivation.
The MoU was signed by the Chief Minister of Andhra Pradesh, Mr. Y.S. Jagan Mohan Reddy and Mr. Sanjay Goenka, Managing Director and CEO, 3F Oil Palm.
An official release from the company stated that 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.
As per the company 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 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.
A senior state government official, said: “Palm oil cultivation in Andhra Pradesh stands as a beacon of economic empowerment, contributing over 85% 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 that will revolutionize the oil palm cultivation landscape of the state.”
Mr. Sanjay Goenka, MD and CEO, 3F Oil Palm, said: “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. We thank the Chief Minister of Andhra Pradesh, Mr Y S Jagan Mohan Reddy for his visionary leadership.”
The company has already acquired 75 acres of land in Nallajerla Mandal for setting up its greenfield integrated Oil Palm Processing complex.
