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| Israeli firm to invest Rs 450cr in Andhra |
| BS Reporter / Mumbai/ Hyderabad Jul 15, 2009, 00:37 IST |
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Makhteshim-Agan, an Israel-based farm technology company, commenced its operations in Andhra Pradesh on Monday.
The company, with a turnover of $2.5 billion in 2008, is proposing an investment of Rs 450 crore in the coming years, generating direct and indirect employment to 2,000 people. This was announced in the presence of chief minister YS Rajasekhara Reddy.
Besides sales, th company is exploring the possibility of setting up a research centre in Hyderabad and later look at industrial capacity building in the state.
It will formulate environment-friendly pesticides in the country. The company has already recruited 300 professionals for enhancing economic productivity of Indian farmers. It has already established a retail customer and warehouse network.
Chief minister YS Rajasekhara Reddy said another Israeli company, ELBIT, was establishing a dairy with 10,000 cows at Palamaneru in Chittoor district.
The company will also set up a research facility at Pulivendula in Kadapa district. He unveiled the company’s logo on the occasion.
Israel’s Ambassador to India Mark Sofer said Israel and Andhra Pradesh were widening their trade relationships.
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