Godrej Agrovet plans Rs.60 crore investment in Bengal, Bihar

July 24th, 2010 - 6:31 pm ICT by IANS  

Kolkata, July 24 (IANS) Diversified agri-business company Godrej Agrovet Limited (GAVL) plans to invest Rs.60 crore in West Bengal and Bihar for setting up animal feed mills, a top company official said here Saturday.
“We would invest around Rs.60 crore to set up animal feed mills in West Bengal and Bihar. These mills would come up in one year. We would require five-six acres to set up these mills,” B.S. Yadav, managing director of the company told reporters at a press meet.

He said the company has already spent around Rs.40 crore to set up animal feed mills near Lucknow and Varanasi and it has acquired one in Bhubaneswar.

GAVL expects 15 percent jump in its topline and 25 percent in the bottomline in the current fiscal (2010-11). Last fiscal, the company clocked a turnover of over Rs.1,600 crore, he said.

Talking about its oil palm business, Yadav said, the company plans to triple its topline in the next five years.

“There is enormous potential in the edible oil market in the country,” he said.

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