Industrial ventures and merges are in progression in castor oil business currently. As the prices and supply demand continue to surge in this oil sector,bulk manufacturers have obviously realized that it is the collaboration as a strategic tool to cope up with this dynamic trend for a successful run in production of castor oil.
Two Indian castor oil giants namely Adani Wilmar and NK Industries from the Gujarat state have entered into an agreement for joint venture-ship in production of castor oil.As per the press release from the concerned sources,the unit functions under the name AWN Agro Ltd and commences its operation from May.The industrial partners also stated that their production capacity is 3000tonnes oil per day from the current production infrastructures.However no clear information has been presented regarding financial status of the new facility as the managing director of Adani Wilmar,Mr:Pranav Adani claimed that it is quite early to declare fact sheets. The joint proposal was even appreciated by Mr:Vittal Udeshi,Chairman of Jayant Agro Organics Ltd over the business expansion.
It is interesting to watch the business proceedings and the shifts with respect to the availability of raw materials.It seems to be condition tolerated by firms who are well rooted in their respective ventures but is a matter of concern for new entries to achieve a sustainable stand.
For reference: http://m.economictimes.com/PDAET/articleshow/8062780.cms