The new cotton seed plant will come up near its already commissioned 1,500 tonnes per day (TPD) soybean processing plant at Gandhidham. Gokul used part of its initial public offering (IPO) proceeds to fund Rs 51 crore soybean processing plant. Now the company is gearing up to pump in around Rs 60 crore for a greenfield cotton seed processing facility, which will also have solvent plant, say sources.
The proposed plant, to be set up as part of backward integration, would have around 400-500 TPD and the company is hopeful of start initial groundwork for cotton seed processing unit by September-October this year.