CONNECT WITH US
eCommerce

eCommerce

BL Agro plans Rs 7,000 cr Tanzania investment, targets Rs 30,000 cr revenue by FY29

ET Retail – Ecommerce logo

Published on

Add as a preferred source on Google
BL Agro plans Rs 7,000 cr Tanzania investment, targets Rs 30,000 cr revenue by FY29

BL Agro plans Rs 7,000 cr Tanzania investment, targets Rs 30,000 cr revenue by FY29

BL Agro is set to invest Rs 7,000 crore in Tanzania over the next decade for various projects. This includes a vegetable oil complex, which will be operational within three years. The company aims to enhance local agricultural productivity and develop a cattle-breeding segment. An initial public offering is a possibility, although not an immediate concern. The expansion is expected to generate significant employment opportunities and increase revenues by 2030.

Bareilly-based BL Agro is planning to invest Rs 7,000 crore in Tanzania over the next decade across edible oil refining, cattle breeding and agriculture, with the first project involving a Rs 1,200-1,500 crore vegetable oil complex with a capacity of 1,100 tonnes per day. The company expects the refinery to be commissioned within three years, as it looks to build an integrated food and agriculture business in East Africa. The proposed investment will be rolled out in phases, with a Rs 2,000 crore cattle-breeding project planned over seven years and a further Rs 1,500 crore earmarked for agriculture-related infrastructure, including local tractor manufacturing, BL Agro managing director Ashish Khandelwal told ETRetail. Advt

“We are trying to replicate a similar model in Tanzania to what we are doing here in India,” Khandelwal said, adding that the company intends to combine local agricultural resources with Indian technology, processing expertise and manufacturing capabilities. The oil complex will include crushing, solvent extraction and refining facilities, marking an expansion beyond BL Agro's existing Indian operations, where it does not operate solvent extraction plants.


Source link
Related Topics:eCommerce

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

BL Agro plans Rs 7,000 cr Tanzania investment, targets Rs 30,000 cr revenue by FY29 | TheMorningPulse.fyi