Godrej Agrovet inks pact with Food Processing Min for Rs 960 cr investment

New Delhi, Sep 26 (PTI) Godrej Agrovet Ltd has signed a pact with the Food Processing Ministry to invest Rs 960 crore to set up manufacturing, processing and research facilities.

The company on Friday signed a non-binding Memorandum of Understanding (MoU) with the Ministry of Food Processing Industries (MoFPI) on the sidelines of World Food India 2025.

This proposed investment of Rs 960 crore is a significant step in the company's journey towards enhancing its food processing capabilities through manufacturing facilities and an R&D centre, Godrej Agrovet said in a regulatory filing.

"The MoU is in line with our long-term strategy of strengthening our agri-food processing and distribution capabilities. By investing in upstream infrastructure and R&D, our aim is to create sustainable value across the supply chain while contributing to the upliftment of the ecosystem," Sunil Kataria, CEO & MD of Godrej Agrovet, said.

Under the MoU, Godrej Agrovet will set up manufacturing and processing facilities along with an upstream R&D centre. Focused on the company's Oil Palm and Pet Food businesses, the investment spans across Andhra Pradesh, Assam, Tripura, Telangana, and Maharashtra.

"We are delighted to partner with Godrej Agrovet. Today’s MoU reaffirms our shared commitment to strengthening India's agri-food ecosystem and advancing rural development goals," Avinash Joshi, Secretary, Ministry of Food Processing Industries, said. PTI MJH MJH SHW