Ag Tech News

Mahindra group launches joint venture with israeli agtech company

Mahindra group firm EPC Industrie Ltd today said it has formed a joint venture with Israeli greenhouse company, Top Greenhouses Ltd, to work in protected cultivation industry and provide specialised and relevant technologies to Indian market.

EPC will hold 60 per cent stake in the JV with the rest 40 per cent by Top Greenhouses, Mahindra & Mahindra said in a BSE filing.

"It is an opportunity for EPC and Top wherein both the partners can draw on the strengths of each other and grow protected cultivation business by providing access of hi-tech and relevant solutions to country at large," EPC Industrie Managing Director Ashok Sharma said.

With more evident impact of climate change on agriculture, protected cultivation is an important method to raise agricultural productivity in the country, he added.

Protected cultivation helps save crop from the vagaries of nature, reduce water consumption for irrigation and improve yield multiple fold, the company said.

"The business will now be able to grow and cater to the needs of millions of farmers, research institutes and corporates in India," Sharma added.

Source: http://www.business-standard.com/

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