Sri Biotech Pvt. Ltd., an Indian agri-biotech company, on July 14 signed an agreement to form a joint venture with Ocean Agriculture (Pty) Ltd. of South Africa. Sri Biotech CEO, K. R. K. Reddy, said the investment into the joint venture would be $5 million.
While Sri Biotech would participate in the venture by transferring its technology on the development of viruses, bacteria and fungi for making biological and organic fertilizers and pesticides, Ocean Agriculture would fund the registration process and set up research and development facilities for climate, soil and crop-specific organic and biological formulations.
Chief Operating Officer of Ocean Agriculture, James Cockburn, said the demand for residue-free agricultural products was growing across the world. South Africa was a big horticultural exporter to European countries.
Reddy said the company was ramping up its production capacity from the current 300 tonnes to 3,000 tonnes of biological agricultural inputs.
The Hindu
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July 23, 2007
South African, Indian firms partner to produce biological agro- inputs
Categories agrochemicals, biotechnology, India, inputs, pesticides
