Halder Venture's Strategic Expansion: New Era in Edible Oil Market

Halder Venture Limited acquired a closed edible oil refinery from KS Oil in Haldia for Rs 58 crore. Aiming to boost annual revenue by over Rs 1,500 crore, HVL plans to renovate and operationalize the plant within three months and expand its branded edible oil portfolio.

City-based agro company Halder Venture Limited (HVL) has entered the edible oil market with a bold acquisition of KS Oil Ltd's closed refinery unit in Haldia for Rs 58 crore.

The acquisition comes after KS Oil faced liquidation due to debt issues, as confirmed by HVL officials.

HVL plans to operationalize the plant within three months to facilitate a strategic expansion that aims to boost annual revenue by over Rs 1,500 crore.

According to Keshab Kumar Halder, HVL's managing director, the overhaul may require additional investment in phases to ramp up the refinery's capacity and modernize its operations.

The new facility offers a five-fold increase in refining capacity compared to their existing plant in Birbhum, tackling logistical challenges by being located at the port.

HVL's Haldia refinery includes a 33,000-tonne storage tank facility linked to an oil jetty, expected to spearhead HVL's shift from bulk sales to a branded oil portfolio.

While HVL anticipates a turnover of Rs 900 crore in FY25, it remains undisclosed if any KS Oil brands were part of the deal.

(With inputs from agencies.)