Kolkata, Feb 20 (IANS) City-based Rs.2,500-crore Emami Group has forayed into the food and beverage business with the launch of its edible oil brand 'Healthy and Tasty' and plans to clock Rs.300 crore business in the first year, a senior company official said here Saturday.

'We are aiming at a market share of 10 percent of the Rs.10,000 crore edible oil market in the country by 2015,' Emami Group director Aditya V. Agarwal said during the launch of the brand in the city.

Emami will introduce the product in West Bengal, North-East and Karnataka, which will be followed by a pan-Indian launch.

Agarwal said the company plans to make the edible oil brand a Rs.1,500-crore brand over next five years.

'The edible oil will be produced at our plant in Haldia. The plant will have the capacity to produce 1,000 tonnes per day of palm oil and 600 tonnes per day of soybean oil. Eventually the palm oil production capacity will be enhanced to 1,400 tonnes per day,' Manish Goenka, director of the company said.

The company is planning to set up two edible oil refineries - one at Krishnapatnam in Andhra Pradesh and another in Gujarat.

'Both the refineries would be set up by 2010-11 and for the Krishnapatnam project we are finalising the land now,' Agarwal said.

The Krishnapatnam refinery will be refining palm and sunflower oil. The investment for this refinery would be to the tune of Rs.250 crore.

The company plans Rs.1,000 crore investment in the next three years, he said, which might include 'some domestic buyouts'.

He declined to divulge any further details of the acquisitions.