"This is just the beginning. They have plans to invest another USD 10 million," he said, recalling West Bengal Chief Minister Mamata Banerjee's visit to Singapore in 2014.
Mandala has so far invested about Rs 1,200 crore over the years in Indian agri-businesses.
EFRAC runs an integrated testing and research laboratory for food processing, pharmaceutical and environment sectors at Barasat in North 24 Parganas. It has a team of 94 scientists, which would be increased to 130 next year.
Dominic Redfern of Mandala Capital said they decided to invest in the company because of the highest standards of ethics practiced in the laboratory.
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