Kolkata, Sep 21: K S Oils Limited, the Morena-based edible oil company, has decided to set up a plant in the industrial town of Haldia at an investment of Rs. 100 crore as part of its plan to expand beyond Madhya Pradesh and Rajasthan.
''We are going to set up a refined soya and palmoline oil plant in Halida with an annual capacity of 180,000 tonnes. It will cost us Rs. 100 crore,'' Chairman Ramesh Garg said.
According to Mr.Garg, the proposed plant would require 25 acres of land which the company would purchase directly from the present owners. As K S Oils was now scouting for a suitable plot, the process would take about a year before work could be taken up for construction of the plant.
With a Rs. 600-crore investment plan this year, the company would set up five new plants, three in Madhya Pradesh and two in Rajasthan, and two windmill projects by this fiscal. At present, K S Oils has its plants at Morena, Alwar and Jodhpur, largely producing mustard oil.
The entire funds would be raised from internal accruals and through debts, Mr.Garg said.
In reply to a question, Mr.Garg said the company was expecting about 80 per cent jump in its turnover at Rs. 1,8000 crore this fiscal as compared to Rs. 1,088 crore in 2006-07.
The Chairman said the company, currently having 484 stockists of its brands across the country, was planning to make its presence stronger in the Northern and Western India states through Central Distribution Point.
At present K S Oils is the largest supplier of edible oil to the defence sector while it exports soyabean and rapeseed meal to other countries. K S Oils branded mustard oil commands the highest market share in North-East India.