Investing $35m on Acquisition, Upgrading of the Facility
12.06.2021 By Ricardo Perez - NEWS

December 6, 2021 [TheHindu] – Cargill on Tuesday said it is investing $35 million on acquiring and upgrading an edible oil refinery in Nellore in neighbouring Andhra Pradesh.

 

The facility is expected to be fully operational by May 2022 and will significantly increase its edible oil production capacity and footprint in southern India. The move would also strengthen existing supply chain to meet growing customer demand, especially expand the offerings into Andhra Pradesh, Telangana, Karnataka and Tamil Nadu, the company said in a release.

Cargill said the newly acquired refinery gives capability to supply refined palm oil, palmolein, vanaspati (hydrogenated vegetable oil) and sunflower oil. It also allows the company to produce and package its own edible oil brands for retailers and to better serve bakery and food service customers in the region.

“We have driven significant growth of our edible oils business in India over the last few years. This acquisition propels our expansion, specifically in southern India, and demonstrates our commitment to India and our customers in the country,” said Piyush Patnaik, managing director of Cargill’s edible oils business in India. The acquisition is aligned with Cargill’s tailored and localised market approach for Asia that will drive global growth in food and agriculture. The company is consistently working to modernise the business and investing in expanding footprint, he said.

The company said it is into edible oils business in India since 2001. It processes, refines and markets a wide range of indigenous and imported edible oils and fats, catering to the food industry as well as household consumers.

Click Here to Access a 7,000 Tank Terminal Database With a Pro Trial

7,000 terminals as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Canada Commits to Backing C$3 Billion in New Trans Mountain Oil Pipeline Loans
06.02.2023 - NEWS
June 2, 2023 [Reuters]- The Canadian government is backing up to C$3 billion ($2.24 billion) in l... Read More
Port Harcourt Refinery to Start Before End of 2023, says NNPC GMD
06.02.2023 - NEWS
June 2, 2023 [Business Day]- Mele Kyari, the Group Managing Director of the Nigerian National Pet... Read More
Par Pacific Completes Acquisition of ExxonMobil Billings Refinery and Related Upper Rockies Logistics System
06.02.2023 - NEWS
June 2, 2023[Par Pacific]- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) announced ... Read More
Kinder Morgan to Increase Storage Capacity on its Texas Intrastate System
06.01.2023 - NEWS
June 1, 2023 [Kinder Morgan]- Kinder Morgan, Inc. (NYSE: KMI) today announced its plan to expand ... Read More