Kilpest India announced that its subsidiary, 3B Blackbio Biotech India, Bhopal has entered into a Business alliance / MOU with Dr. Prof. Subhash Hira, and Dr. Prof. Yassa Peirre Yoniene, (These two Global Public Health Experts in infectious diseases, who have occupied senior positions in UN, WHO, USAID, Global Fund, and have been advisors to Ministry of Health (MoH) Zambia, MoH India, MoH Congo), to form a step down subsidiary company in Zambia, a country in South-Central Africa where 51% of the stake will be held by the company's subsidiary, 3B Blackbio Biotech India and balance 49% will be held by the two global experts.
Based on the experience of Dr.
Prof. Subhash Hira and Dr. Prof. Yassa Peirre Yoniene the step down subsidiary will set up a Diagnostic Laboratory in collaboration with Brook Besor University, Lusaka, Zambia where infrastructure and utilities will be provided by the university and equipments and manpower will be provided by 3B Blackbio Biotech India.
Initially the low investment outlay will be upto Rs 50 to 60 lakh out of which major part would be capital employed in purchase of equipments and a minor part would be towards working capital.
This funding would be done from internal accrual for which the company has comfortable cash flows. This Lab will use a lot of the Diagnostic Kits exported by the Indian Parent Company apart from few other kits sourced from others. This Lab will help the company to set good initial foothold in the African market which can help the company to expand further in other African countries. This Diagnostic Lab will retain long term guarantees of Diagnostic Kits export to African continent.
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