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South Asia

India's Chambal expands Down Under

CHANDIGARH - As a part of its business strategy to enter the global seed potato market, Chambal Fertilizers and Chemicals Limited, a flagship company of the Rs 50 billion (US$1.08 billion) K K Birla promoted Zuari-Chambal group of companies, has acquired 51 percent controlling stake in the Australian agri-biotechnology giant, Technico Pty Ltd, with an investment outlay of A$18.5 million (US$12.43 million).

The company also plans to develop India as a production hub for its global consumer base, a company statement said.

Technico Pty Ltd of Australia is a high-technology driven company specializing in the usage of advanced agricultural practices for the potato industry and has developed its proprietary Technituber Technology for the rapid multiplication of early-generation high-quality potato seeds, the release said.

Chambal Fertilizers, since March 1999, has a 50:50 joint venture with Technico-Chambal Agritect Limited (CAL), to produce early-generation high-quality potato seeds for the domestic and overseas market. The facility, set up in Manpura, is the largest Techniturber seed-production facility in the world.

(Asia Pulse/PTI)

Jul 2, 2003

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