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Wednesday, April 22, 2009
KS Oils infuses Rs 370cr in greenfield venture
Commenting on the Rs 370 crore backward integration, Sanjay Agarwal, Managing Director and Chief Executive Officer, KS Oils, said it was part of the company's strategy to do backward integration in palm plantations. This greenfield project will be routed through the company’s Singapore subsidiary. KS Oils has made an investment of Rs 370 crore, Agarwal said, adding that 20,000 hectare of land has been bought for the same purpose. The company has already invested Rs 50 crore in the venture, and the remaining will be arranged from KS Oils' cash accrual and debt.
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