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Hyderabad based Gemini Edibles and Fats India (GEF), a refined sunflower oil company with a turnover of Rs 4,000 crore, is planning to spend about Rs 750 crore to set up two processing units in Tamil Nadu and Orissa, with a capacity of 1,100 tonnes a day each, with each plant costing about Rs 240 crore.
The company intends to double its capacity to 50,000 tonnes a month from the present capacity of 25,000 tonnes, in the next two years.
According to the company, the expansion plan would be funded through internal accruals and debt. Of the 2.2 million tonnes of edible oil that the country consumes annually, packaged sunflower oil comprises 1.8 million tonnes and about 4 million tonnes of soya oil is consumed.