Karnataka-based M.K. Agrotech plans to establish a 750-tonnes-a-day production facility for refined sunflower oil at Kakinada in Andhra Pradesh. The facility is expected to entail an investment of around ?400 crore. The company is hopeful of commissioning its similar facility in Bangalore within two months. The existing production facility of the company in Srirangapatna, Karnataka, has a capacity of 450-tonnes-a-day, national sales manager Mallikarjun Peri told presspersons here on Tuesday. The company had launched its ‘Sunpure’ brand refined sunflower oil in Telangana and A.P. markets, he said. Discussions were on with Andhra Pradesh government on the proposed plant in Kakinada. The land requirement of the plant would be 8 to10 acres, he said, adding that the facility was likely to be ready within 18 months. The market for refined sunflower oil in the country was around 65,000 tonnes a month with the share of the organised players being 30,000 tonnes to 40,000 tonnes. Though it was a segment registering substantial revenues, the margins were wafer thin. An upward revision in the import duty on the raw material recently had led to an increase in the price of the product, he said. The company, which is also into other edible oils, sugar and atta, over the past few months had launched refined sunflower oil in Tamil Nadu, Kerala and Maharashtra. The new plants, he added, would help meet the demand coming from the new markets and a few other M.K. Agrotech planned to enter.

Stay updated with all the Hyderabad Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.