Kochi

Plant Lipids to invest ₹200 cr. on expansion plan

Plant Lipids, one of the largest producers of spice oils and extracts in the world, will invest ₹200 crore to expand its existing facilities and establish state-of-the-art new facilities. Plant Lipids, based in Kolencherry, manufactures and exports essential oils, spice oleoresins, natural food colours, whole and ground sterilised spices to over 80 countries worldwide. The decision to make fresh investments was announced at the Meet the Investor programme organised here on Tuesday, said a release from Industries Minister P. Rajeeve’s office.

The investments are expected to be completed by 2026. Plant Lipids will establish the world’s largest supercritical extraction plant in Kolencherry, near Kochi. Along with the plant, there will also be new facilities for food colour and natural products extraction. A project involving ₹60 crore expanding the facilities is already underway, the communication said. Another ₹60 crore will be invested in the next financial year and by 2026, ₹80 crore more would be invested in various projects.

Plant Lipids has six divisions operating in Kerala now. Mr. Rajeeve said that the government would consider providing an industrial estate status to the area where the main plants were operating. The Minister also assured all support to entrepreneurs and said that a single-window clearance system providing sanctions within seven days would be established.

K. Ellangovan, Principal Industries Secretary, Director S. Harikishore, KSIDC MD M.G. Rajamanickam, and Kinfra MD Santosh Koshi Thomas, Plant Lipids CEO Ranjit Ramachandran, and MD John Nechippadam were among those who participated in the programme, the communication said.

Meanwhile, the district-level single window clearance board met here on Tuesday and cleared 26 applications. The meeting was attended by District Industries Centre manager Biju Abraham.


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Printable version | Dec 3, 2021 8:09:50 PM | https://www.thehindu.com/news/cities/Kochi/plant-lipids-to-invest-200-cr-on-expansion-plan/article36973362.ece

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