ITANAGAR, 30 Aug: 3F Oil Palm Pvt Ltd, a leading oil palm company in India, on Tuesday announced that it will kick off its investment in the Northeast by setting up an integrated oil palm factory in Arunachal Pradesh.
The factory’s groundbreaking ceremony will take place on 30 September in Roing in Lower Dibang Valley district. The company has already acquired 120 acres of land for the project, and all necessary approvals and statutory clearances pertaining to the land have been obtained.
The project will consist of a state-of-the-art palm factory, “a zero discharge effluent plant, a power plant based on palm waste, and buildings and godowns for support functions,” it informed in a release.
The factory is set to be developed in two phases, and Phase 1 is expected to be commissioned by September 2023. Phase 1 of the project is expected to generate employment for over 300 local people.
“We are very delighted and excited about our upcoming integrated oil palm factory in Arunachal Pradesh. Since the plantations are at a nascent stage, our factory will be running at extremely low capacity utilisation. The primary reason for expediting this investment is to build farmer confidence, so that they are encouraged to take up oil palm cultivation on a large scale,” 3F Oil Palm Ltd CEO Sanjay Goenka said.
