Godrej Agrovet Limited (Godrej Agrovet), one of India’s largest diversified agri-food businesses, today signed a non-binding Memorandum of Understanding (MoU) with the State Government of Andhra Pradesh (AP).

Under this MoU, the company would be investing Rs. 70 crore to expand the dairy processing and value-added product capacities in its dairy business and set up new Samadhan Centers – one-stop solution center for Oil Palm Farmers.

The MoU was signed in the presence of Nara Chandrababu Naidu, Chief Minister of Andhra Pradesh; Sunil Kataria, MD & CEO, Godrej Agrovet and Rakesh Swami, Group President – Corporate Affairs, Godrej Industries Group.

Commenting on the occasion, Chandrababu Naidu, said, “Strengthening the agri-food processing sector is imperative for farmers of our soil to proposer. In sync with the same, we are delighted to partner with Godrej Agrovet, a strong and reliable partner. I am confident that this partnership will not only help strengthen our agricultural ecosystem but also create sustainable livelihoods for the community at large while driving economic growth.”

Sunil Kataria, CEO & MD, Godrej Agrovet, said, “We are grateful to the government of Andhra Pradesh for fostering an ecosystem that supports businesses and uplifts communities.”

“Today’s MoU is a testimony of our intent to strengthen our agri-food processing capabilities while continuing to empower farmers. With a strong legacy of innovation in food processing, our mission remains to advance India’s nutrition landscape and contribute to the growth of agri-economy.”

Godrej Agrovet’s wholly owned subsidiary Creamline Dairy Products Limited, which sells products under the brand name Godrej Jersey, will be expanding its dairy processing and value-added products capacities in three phases.

The company’s oil palm business, a largest oil palm processor in India and working directly with the farmers for the entire lifecycle of the crop, will be establishing five new Samadhan Centers. Samadhan is a one stop solution centre that would provide a comprehensive package of knowledge, tools, services and solutions to oil palm farmers.

Rakesh Swami, Group President – Corporate Affairs, Godrej Industries Group, said, “Andhra Pradesh has been a key state for Godrej Industries Group, playing a pivotal role in our growth across sectors. The signing of this MoU reflects the State's speed of doing business and partnership oriented approach, notably through its streamlined approvals process and investor-friendly policies. We look forward to contributing to Andhra Pradesh's growth story and remain committed to expanding our groups footprint across consumer, real estate and finance business too.”