Gemini Edibles & Fats India Ltd (GEF) is investing 600 INR-Crore in setting up their first multi-oil refinery and oil seed crushing facility in Hyderabad. The edible oil manufacturers have already acquired 33 Acres of land for the project and will start the construction soon.
Telangana Government has allotted the land near Kothur, Hyderabad, to GEF for the construction of the said refinery. It is proposed in two phases. Phase one includes the construction of the multi-oil refinery (worth 400 INR-Crore), whereas in phase two, the crushing unit (worth 200 INR-Crore) will be built.
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P Chandra Shekhara Reddy, the Vice president of Sales & Marketing at GEF, announced that the company will get the land possession by the end of this year. The construction will start in the first quarter of 2024, while the estimated deadline for the project is two years. GEF is expecting to start production by the year 2025-26.
With the construction of this new facility in Hyderabad, a rise in job opportunities for nearly 1,000 people is expected. Reddy also mentioned that GEF will be working with farmers and seed research and production companies (for the cultivation of sunflowers) for their first facility.
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