New Delhi [India], May 1 : Patanjali Foods Limited has signed a Memorandum of Understanding with the Telangana government to establish a food processing unit in the Nalgonda district.
The company was formerly known as Ruchi Soya Industries Limited.
The food processing unit will come up at Uppalancha village with a capital investment of Rs 1,050 crore, Patanjali Foods informed stock exchanges on Sunday.
The stock filing said the MoU was "non-binding and non-enforceable".
Incorporated in 1986, Patanjali Foods Limited has evolved as an integrated player in the edible oil business with a presence across the entire value chain, including palm oil plantations in India.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor