The all-weather port in Konkan region– the Angre Port Pvt Ltd has leased five acres of its industrial backup land to Arjun Refineries in order to set up an edible oil refining-cum-packaging facility. Reports stated that the strategic leasing model will save the land and also help in reducing startup costs. Alo ng with it, the port-based refinery will significantly cut logistics costs for Arjun Refineries and will also give a company access to new markets in Maharashtra, North Karnataka, and Goa.
About the lease
Under the terms of the 30 years lease, the edible oil-making subsidiary of Arjun Refineries– Arjun Indo Argo Oils Ltd will use the land to create a refinery and a packaging unit. In the first phase, the company will have a capacity of 50,000 tonnes per year, while in the second phase, it will ramp up to one lakh tonnes. The operations are set to start within the next two months.
