Gemini Edibles and Fats India (GEF), a refined sunflower oil company with a turnover of ₹4,000 crore, is planning to double its capacity to 50,000 tonnes a month from the present capacity of 25,000 tonnes, in the next two years.
The company will spend about ₹750 crore to set up two processing units in Tamil Nadu and Orissa, with a capacity of 1,100 tonnes a day each, with each plant costing about ₹240 crore.
“Besides, we will expand the capacity at our Kakinada plant to 1,500 tonnes from the present 400 tonnes a day,” Pradeep Chowdhry, MD of GEF, told BusinessLine.
He said the expansion plan would be funded through internal accruals and debt. Of the 2.2 million tonnes of edible oil (branded and unbranded) that the country consumes annually, packaged sunflower oil comprises 1.8 million tonnes. About 4 million tonnes of soya oil is consumed.