Hyderabad: Chief minister A Revanth Reddy will inaugurate the oil palm factory and lay the foundation for a refinery at Narmeta in Siddipet on Sunday. Ahead of the inauguration, ministers Tummala Nageshwara Rao and Ponnam Prabhakar, along with officials, reviewed the arrangements on Saturday. They inspected the helipad, the 150 stalls set up as part of the Rythu Mahotsavams on the factory premises, the site for laying the oil refinery foundation stone, and the meeting venue.“This factory will serve as a central hub for oil palm farmers in northern Telangana,” said Ponnam. He added that farmers should focus on oil palm cultivation, which promises better profits. “The factory has a crushing capacity ranging from 30 to 180 tonnes per hour,” he said.Agriculture minister Tummala said that this is the first factory in the country to be completed in just 16 months. “Earlier, produce cultivated in the state had to be transported to Aswaraopeta. Hence, the factory was set up quickly,” he said. The minister added that over the past four to five years, farmers from 30 districts have taken up oil palm cultivation, with private companies also showing interest.“The oil palm factory in Siddipet will be significant for the state,” he said, adding that his first signature after assuming charge as agriculture minister was for the oil palm factory. The facility has been set up on 32 acres at a total cost of Rs 300 crore. The waste generated in the factory will be used to produce four megawatts of electricity. The oil from the refinery will directly reach beneficiaries under the Vijay brand, he said.“Farmers will receive payment in their accounts within three days of selling their produce. The facility is expected to produce more oil than Malaysia,” he said, adding that oil palm cultivation can be taken up in any climate. The minister also said that the factory has been built using funds from oil palm remuneration. “It is people’s money and property,” he added. Tummala further said that Telangana is the only state in the country to waive farmers’ loans amounting to Rs 21,671 crore in a single phase.
