Oil Palm India, a joint venture of Centre and State Governments, recorded the highest ever income of Rs 45 crore in the financial year 2011-12.
The profit reached Rs 14.6 crore with the increase in production. The dividend of Rs 2.35 crore was given to the Centre and State Governments. The State Government share of Rs 1.35 crore was handed over by company chairman Sheikh P Harris, managing director K N Ravindran and agriculture department secretary K R Jyothilal to Agriculture Minister K P Mohanan.
The company was able to produce 7,500 tons of crude palmoil and 800 tonnes of kernel oil in the last financial year. The company is also engaged in the marketing of Kuttanadu Rice through Modern Rice Mill, started at Vechoor in Kottayam district from the paddy procured from farmers. 12,000 tonnes of paddy are processed a year in this mill.
The company plans to start a captive power station which can produce one MW of power and start farm tourism at the estates.