Patanjali Foods Limited has signed a Memorandum of Understanding with the Telangana government to establish a food processing unit in the Nalgonda district.
Read: April 2023 Issue of Food InfoTech Magazine.
The company was formerly known as Ruchi Soya Industries Limited.
According a report by ProjectsToday – the food processing unit will come up at Uppalancha village with a capital investment of Rs 1,050 crore, Patanjali Foods informed stock exchanges on Sunday.
The stock filing said the MoU was “non-binding and non-enforceable”.
Incorporated in 1986, Patanjali Foods (formerly known as Ruchi Soya Industries) is an integrated player in the edible oil business, with a presence across the entire value chain. In September, 2022, the company laid the foundation stone for an oil palm mill in East Siang district of Arunachal Pradesh. Patanajali plans to undertake large-scale cultivation of oil palm plantations on 5 lakh hectares in India, out of which 3.2 lakh hectare area will be in the North Eastern region.
The company is featured among the Top FMCG players as one of the leading manufacturer & marketer of healthy range of Edible Oils and a Pioneer of Soya Foods in India. It is also one of the largest palm plantation companies in India. It owns 22 manufacturing units that cumulatively translate to a refining capacity of over 11000 tonnes per day, seed crushing capacity of 11000 tonnes per day and packaging capacity of 10000 tonnes per day.
Also Read: Top Food Processing Companies in India 2022.
A Pan-India presence with strategically located manufacturing facilities striking the right balance between proximity to raw materials and markets coupled with an extensive distribution network and a large sales force in India has enabled the company to have smooth operations, higher production to meet the ever increasing domestic demand and has also enabled it to export by-products such as soya meal, lecithin and other food ingredients to other countries.