9 months ago
Godrej Agrovet to invest Rs 70 crore in Andhra Pradesh for dairy and oil palm expansion
A big company called Godrej Agrovet is going to give Rs 70 crore to the state of Andhra Pradesh.
This money will be used for two main things.
First, they will make their milk-processing business, called Godrej Jersey, even bigger to make more dairy products.
Second, they will help farmers who grow oil palms by setting up five new centers.
These centers will teach farmers how to grow their crops better and give them the tools they need.
The Chief Minister of Andhra Pradesh is happy about this because he thinks it will help farmers and make the state's economy grow stronger.
This is like a promise to work together to make farming better for everyone.
Godrej Agrovet signed an MoU with the Andhra Pradesh government to invest Rs 70 crore.
The investment will expand dairy processing capacity through its subsidiary Godrej Jersey.
Five new 'Samadhan Centers' will be established to support oil palm farmers.
The initiative aims to strengthen the agri-food processing sector and create livelihoods.
Andhra Pradesh Chief Minister Nara Chandrababu Naidu was present during the MoU signing.
- Who
- Godrej Agrovet Ltd.
- What
- Signed a non-binding memorandum of understanding (MoU) to invest Rs 70 crore for expanding dairy processing capacity and establishing farmer support centers for oil palm farmers.
- Where
- Andhra Pradesh
- When
- Thursday, November 13 (as per PTI report date)
- Why
- To strengthen the agri-food processing sector, prosper farmers, empower farmers, create sustainable livelihoods, and drive economic growth.
Key facts
- Company
- Godrej Agrovet
- Investment Amount
- Rs 70 crore
- State
- Andhra Pradesh
- Primary Investment Areas
- Dairy processing and Oil Palm expansion
- Dairy Brand
- Godrej Jersey (through Creamline Dairy Products Ltd)
- Farmer Support
- Five new Samadhan Centers for oil palm farmers
Quotes
Nara Chandrababu Naidu
Andhra Pradesh Chief Minister
“Strengthening the agri-food processing sector is imperative for farmers of our soil to prosper.”
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“I am confident that this partnership will not only help strengthen our agricultural ecosystem but also create sustainable livelihoods for the community at large while driving economic growth.”
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Sunil Kataria
Managing Director and CEO of Godrej Agrovet
“Today’s MoU is a testimony of our intent to strengthen our agri-food processing capabilities while continuing to empower farmers.”
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Rakesh Swami
Group President of Corporate Affairs at Godrej Industries Group
“Andhra Pradesh has been a key state for the Godrej Industries Group, adding that the company remains committed to expanding its footprint across consumer, real estate and finance businesses in the state.”
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