Oil palm player 3F Oil Palm has laid the foundation stone for an integrated greenfield oil palm processing complex at Ayyavaram village, Nallajerla mandal of East Godavari district in Andhra Pradesh.

3F Oil Palm will invest Rs 250 crore for the facility, which is expected to produce two lakh tonne of refined oil per annum by FY25 and will generate around 500 work opportunities directly and indirectly.

The company has already acquired 75 acres of land on the Dwaraka Tirumala Road, whereby the project is expected to be fully functional within the next 18 months.

The company intends to transform the agri-business landscape as the project is slated to be the nation's first greenfield oil palm processing complex. This venture is expected to contribute to India's self-sufficiency in palm oil production and processing.

3F Oil Palm currently operates in Karnataka, Assam, Chhattisgarh, Gujarat and Arunachal Pradesh, apart from Andhra Pradesh. Its cultivation area is spread over more than 55,000 hectares and five processing units.