Gokul Refoils to invest Rs 250cr for plant in Maharashtra

Firm plans to put up crushing plant and edible oil refinery unit.

As part of its expansion strategy, Ahmedabad-based edible oil company Gokul Refoils and Solvent Ltd has earmarked Rs. 250 crore for upcoming projects in Maharashtra. The company is exploring possibility to put up oilseeds crushing plant and edible oil refinery unit in the neighbouring state.

The board of directors of the company recently authorised its managing director, Kanubhai Thakkar, to explore options to expand in Maharashtra and Southern part of the country. “After commissioning of our 1,000 tonnes per day edible oil refinery at Haldia in West Bengal by March 2009, the company will first take up greenfield projects in Maharashtra. The company has earmarked Rs. 250 crore for upcoming projects in Maharashtra,” sources in the company said.

“The company is looking at setting up a crushing unit and edible oil refinery in Maharashtra. However, the company has not yet finalised the location for its new facilities as it is currently scouting for ideal place in the state,” sources added.

The company also plans to enter Southern Indian markets and it is likely to take up projects in South India after its expansion in Maharashtra is over. “The investment for expansion in Southern parts of the country has not been worked out and the locations for its projects in that region would be finalised once Maharashtra projects takes off,” sources said.

It may be mentioned here that the company has already commissioned 1,500 TPD soybean plant at Gandhidham in Kutch district. It is also in the process of setting up 1,000 TPD edible oil refinery at Haldia, which is likely to be operational by March 2009.