 "3F Oil Palm starts oil palm cultivation in Assam under state govt scheme")
3F Oil Palm on Monday said it has started oil palm cultivation in Lakhimpur district, Assam, in association with the state government, and aims to cover over 20,000 hectare area in the next five years under a central scheme.
The Hyderabad-based company is undertaking the plantation as part of the centrally sponsored scheme National Mission on Edible Oil - Oil Palm (NMEO-OP) and had signed an agreement with the Assam government in December 2022.
3F Oil Palm commenced oil palm plantation on Monday at Bokanala in Baginadi Block, Lakhimpur district, in the presence of state agriculture minister Atul Bora. The initiative aims to uplift farming communities and contribute to India's self-reliance on edible oils.
"...upon signing of the MoU with the government in December 2022, we are the first company to have commenced our investment and set up a state-of-the-art nursery and commence plantation activities through this ceremonial plantation," the company's CEO and Managing Director Sanjay Goenka said.
The company aims to cover over 20,000 hectare of area under oil palm over the next five years, he said in a statement.
3F Oil Palm has already established an oil palm nursery at Bokulbari village in the Lakhimpur district and another nursery in the pipeline at Chirang.
As per the memorandum of understanding with the Assam government, the company will develop oil palm plantations and processing facilities in sub-zone 1-b and V-a, encompassing Lakhimpur and Chirang districts, as part of the NMEO-OP.
In addition to nursery and plantation activities, the company is actively looking for a suitable parcel of land for setting up a greenfield processing plant. The company already has an upcoming greenfield integrated oil palm processing unit in Arunachal Pradesh, the company added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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