Telangana allots 82,000 acres to Lohiya Group for oil palm cultivation
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
The Telangana government has allotted 82,000 acres to oil major Lohiya Group of Industries for oil palm cultivation and for setting up oil palm processing units.
The Department of Agriculture and Cooperation allotted the land in Karimnagar and Jagityal districts.
Lohiya Group of Industries Managing Director, Mahaveer Lohiya, applauded the government for this initiative saying this will reduce India’s dependence on the import of crude palm oil and cater to the needs of a spectrum of industries countrywide.
"Our expertise and world class standards in the industry have been recognised over the past few decades and we are honored to be chosen to be part of the government’s initiative," he said.
According to the Telangana State Food Processing Society, presently 45,000 acres is under oil palm cultivation in Khammam, Kothagudem, and Suryapet.
The Centre has notified an additional target of 8.24 lakh acres in 25 districts of Telangana. Nine companies have been allotted zones across the state. The target of the Telangana State Oil Palm Mission is to bring over 20 lakh acres under oil palm over 3 years by 2024-2025.
