Spice extracts major Plant Lipids announces Rs 200 crore expansion in Kerala

The new investment was announced at the 'Meet the Investor' programme held by Industries Minister P Rajeeve and the Plant Lipids top officials.
For representational  purpose  only
For representational purpose only

KOCHI: Kochi-headquartered Plant Lipids, one of the largest producers of spice oils and extracts in the world, has announced Rs 200 crore investment in Kerala as part of its expansion plan.

The three-phase investment-cum-expansion plan will be completed by 2026. The new investment was announced at the 'Meet the Investor' programme held by Industries Minister P Rajeeve and the Plant Lipids top officials.

Plant Lipids manufactures and exports essential oils, spice oleoresins, natural food colours, whole and ground sterilized spices to about 90 countries worldwide. The company also has offices in seven countries. Plant Lipids will establish the world's largest 'supercritical extraction plant' at Kolencherry in Ernakulam district, a release from the industries minister's office said. Along with this, the company also plans to set up natural food colour and natural products extraction plants.

While Rs 60 crore investment is underway at its main facility at Kolencherry, the company plans to invest another Rs 60 crore in the next financial year. By the 2026 financial year, the remaining Rs 80 crore will be invested for the expansion. The company plans to make investments at all its six divisions in Kerala.

Minister Rajeeve said the government would provide all assistance to the company to facilitate its expansion plans. The government would also consider Plant Lipids' request to give 'Industrial Estate' status to the areas where the company has its plants and facilities.

The single-window clearance for the new investors to get approval for the project will be reduced to seven days, Rajeeve said.

Principal secretary (industries) K Elangovan, director S Harikishore, KSIDC managing director M.G Rajamanickam, Kinfra MD Santhosh Koshy Thomas, Plant Lipids CEO Ranjith Ramachandran, MD John Nechipadam and deputy CEO Manoj Marar participated in the 'Meet the Investor' programme.
 

Related Stories

No stories found.
The New Indian Express
www.newindianexpress.com