An Italian investor reportedly negotiates for taking over the local small-sized vegetal oil producer Ultex Tandarei, estimated by its owner at EUR 25-26mn, reports Business Standard daily. The Italian investor, whose identity is not revealed, wants to build a power generation unit besides the vegetal oil production plant. The company has a processing capacity of 175,000 tonnes of seeds per year. Currently, it crushes sunflower seeds but the investor would convert it to proves rapeseeds or soybeans.