Adani Wilmar, a Rs 6,000 crore company with brand Fortune, plans to invest Rs 100 crore in the next one year to double the capacity of its port-based refinery unit in Haldia to 1,600 tonnes per day by December 2009. The investment includes the land acquisition cost.
Overall, the company plans to invest Rs 600 crore to have an oilseed crushing capacity of 10,000 tonnes per day (tpd), a refining capacity of 7,000 tpd, and a total edible oil volume of 2.5 million tonne by 2012, which is double of its existing capacity.
At a press conference in Kolkata, Adani Wilmar CEO Atul Chaturvedi, said, "We will increase Haldia unit’s capacity from the existing 800 tonnes per day. We acquired close to 8 acres of additional land adjacent to the existing unit spread over 9 acres for the same.”
According to the company, consumption of edible oil in eastern India has increased substantially over the last two years, with consumption in eastern India at 12.5 per cent — at par with the national average consumption of edible oil.
The company has also launched two new brands, Kings for the mid-range segment of the market, and Raag Gold refined palmolein oil for price sensitive consumers.
