Gemini Edibles to invest Rs 400 cr in Telangana, provide employment to 1000 people
Oct 12, 2022
Hyderabad (Telangana) [India], October 12 : Gemini Edibles and Fats India Ltd, a joint venture of Golden Agri International (GAR) Singapore and maker of edible oils under Freedom Brand will be setting up an edible oil refinery near Hyderabad with an investment of Rs 400 crore.
Managing Director of Gemini Edibles Pradeep Chowdhry met Telangana Industries Minister KT Rama Rao in Hyderabad today and conveyed the investment decision.
Gemini MD highlights that the proposed unit is the beginning of the Yellow Revolution in Telangana, which will see many such units coming up in the near future.
The unit will not only provide employment to more than 1,000 locals but will also support the many oilseed farmers in the state, Chowdhry added.
Welcoming the company's decision to invest in Telangana, KTR said that the Telangana state government will extend all possible cooperation to the organization and this new
"Telangana State has already set in motion four revolutions under the leadership of CM KCR (2nd Green Revolution, Blue Revolution, Pink Revolution, White Revolution), Telangana has set itself ambitious goal of cultivating Oil Palm in 20 lakh acres thereby embarking on a Yellow Revolution," he said.
KTR opined that the new investment of Gemini Edibles will play an important role in increasing edible oil output from Telangana and will also help the local farmers.
The Hyderabad-based Gemini Edibles and Fats India Ltd (GEF India) company deals in edible oil manufacturing and selling since 2010.
GEF's brand, FREEDOM sunflower oil is the largest-selling brand in India in the sunflower oil category.
FREEDOM brand is also into several variants like Ricebran, Groundnut and Mustard. GEF has a total three manufacturing plants in Andhra Pradesh with a combined edible oils processing capacity of 2600 MTS per day. GEF's revenue for the last financial year was Rs 10,481 crore.
