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Ruchi Group mulls overseas expansion
12 March 2011: The Ruchi Group plans to grow oil palm in Cambodia.
The Group has signed an MoU with Phnom Penh for this and, initially, oil palm will be cultivated in 20,000 ha. It intends to invest about $150 million (approx Rs 675 crore) in the next three years to expand globally, while in the country, it plans to spend Rs 80-100 crore for expansion.
In Ethiopia, Ruchi has cultivated soyabean on a pilot basis and the result has been good. It plans commercial cultivation of soyabean on 25,000 ha there. During the pilot project, the yield was two tonne a ha.
Ruchi, which has a major share of the palmolein market in the country through Ruchi Gold, plans to increased its capacity to crush oil palm fresh fruit bunch (FFB) to 150 tonnes a hour from the current 61 tonne. The company has three units, two in Andhra Pradesh and one in Karnataka. It plans to set up another mill in Karnataka in 2012.
Source: Hindu Business Line