| there’s more in the pipeline
Calcutta, Aug. 23: The Rs 583-crore Madhya Pradesh Glychem Industries Ltd (MPGIL) has decided to set up a Rs 45 crore edible oil unit at Haldia.
Madhya Pradesh Glychem is part of the Indore-based Ruchi group controlled by the Shahras.
“This is quite a substantial investment for the state. We do not expect mega projects at a time when the economy is in such a bad shape. We are banking on these small and medium enterprises for industrial growth,” state government sources said.
Sources said the company will manufacture hydrogenated edible oil and vegetable oil at the unit. This will enable the company penetrate the eastern Indian market.
The unit will have a capacity of extracting 150 tonnes per day, scalable up to 600 tonnes per day. Work on the unit will begin in December. The West Bengal Industrial Development Corporation will provide a term loan of Rs 5 crore for the project.
MPGIL sells edible oil under the brand name Soyumm, Sunrich and Pamban.
This is the company’s first project outside Indore. The company, which was set up in 1976, is into the business of extracting oils and oilseed by solvent extraction process. MPGIL set up its first project in 1986 in Mandla to process 60 tonnes of oil seeds per day. The capacity of the unit, which is an export-oriented one, was further enhanced to 300 tonnes per day. The company set up its second unit, a modern food processing manufacturing facility of refined vegetable oil and edible soya flour at Narsinghapur. Third is a composite milk processing unit for manufacturing of milk powder and cheese.
The Ruchi group is well known for its Nutrela chunks, which have also made inroads in the overseas markets. Other group concerns include Ruchi Soya, National Steel, Ruchi strips, General Foods and Ruchi Infotech. Sources said the state government is keen to bring in the group in other areas too.
“Bengal has witnessed tremendous growth in secondary steel in recent times. The Durgapur belt has seen quite a sizeable investment in this sector. We hope to bring the Ruchi group in this sector,” they said.