IJM Plantations

Godrej Enters JV Pact With Malaysian Firm For Palm Oil Technology

Godrej Industries has entered into a joint venture deal with a Malaysian planter, IJM Plantations, to develop palm estates and crude palm oil mills in the Indian market.

IJM said that it had signed a memorandum of understanding (MoU) for the same with Godrej Agrovet Ltd (GAVL) a year ago.

Adi Godrej, chairman, Godrej Group said, “This will help us leverage IJM’s technical know-how on oil palm plantation. Also, Malaysia does not allow exporting planting material unless it is through a joint venture. So we can now import high-quality planting material from IJM for our plantations.”