Visakhapatnam, Godrej Agrovet Limited (Godrej Agrovet), one of India’s largest diversified agri-food businesses, has signed a non-binding Memorandum of Understanding (MoU) with the Government of Andhra Pradesh.
Under this MoU, the company would be investing INR 70 Crore to expand the dairy processing and value-added product capacities in its dairy business and set up new Samadhan Centers – one-stop solution center for Oil Palm Farmers.
The MoU was signed in the presence of Chief Minister Nara Chandrababu Naidu; Sunil Kataria, MD & CEO, Godrej Agrovet and Rakesh Swami, Group President – Corporate Affairs, Godrej Industries Group, here on Thursday. Commenting on the occasion, Chandrababu Naidu said “I am confident that this partnership will not only help strengthen our agricultural ecosystem but also create sustainable livelihoods for the community at large while driving economic growth.”
Sunil Kataria, said, MoU is a testimony of our intent to strengthen our agri-food processing capabilities while continuing to empower farmers. With a strong legacy of innovation in food processing, our mission remains to advance India’s nutrition landscape and contribute to the growth of agri-economy.” Godrej Agrovet’s wholly owned subsidiary Creamline Dairy Products Limited, which sells products under the brand name Godrej Jersey, will be expanding its dairy processing and value-added products capacities in three phases.
The company’s oil palm business, the largest oil palm processor in India and working directly with the farmers for the entire lifecycle of the crop, will be establishing five new Samadhan Centers. Samadhan is a one stop solution centre that would provide a comprehensive package of knowledge, tools, services and solutions to oil palm farmers.
Rakesh said, “Andhra Pradesh has been a key state for Godrej Industries Group, playing a pivotal role in our growth across sectors. The signing of this MoU reflects the State’s speed of doing business and partnership oriented approach, notably through its streamlined approvals process and investor-friendly policies. We look forward to contributing to Andhra Pradesh’s growth story and remain committed to expanding our groups footprint across consumer, real estate and finance business too.”