Angre Port leases out land to Arjun Refineries for edible oil unit

Chowgule group's Angre Port on Wednesday said it has leased out five acres of its industrial backup land to Arjun Refineries for 30 years for setting up an edible oil facility, which would give the Kolhapur-based commodities processing company access to new markets in Maharashtra, North Karnataka, and Goa.

Under the leasing terms, Arjun Indo Agro Oils Ltd, the edible-oil-making subsidiary of Arjun Refineries Ltd, will commence operations within the next two months, with a capacity of 50,000 tons per year in the first phase, which will be scaled up to 100,000 tons in the second phase, a release said.

Angre Port will support Arjun Indo Agro Oils in the import of raw materials, and the clearance and storage of cargo through a tank terminal which will have dedicated pipelines to the refinery, it said adding that the strategic leasing model will save land and reduce startup costs as having a port-based refinery would significantly cut logistics costs for Arjun Refineries.

Santosh Vasant Shinde, Founder of Arjun Indo Agro Oils Ltd and Arjun Refineries said, "We are looking to secure more land in the near future as a part of our plan to double the manufacturing capacity.

Situated in the Jaigad (Ratnagiri) in Konkan region, the multi-purpose port owns 300 acres of industrial land as private backup land with capabilities of handling bulk, break-bulk, liquid, project and containerised cargo.

The port, since the start of operations in 2019, has handled approximately 750,000 tonnes of various cargo.