Indian Company to transfer technology
Hyderabad, July 14, 2007Sri Biotech Pvt. Ltd., an agro biotech company on Saturday singed an agreement to form a joint venture with Ocean Agriculture (Pvt) Ltd., of South Africa. At a press conference, the CEO of Sri Biotech said that the company investment in the joint venture would be $5 million.
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.
The chief Operating Officer of Ocean Agriculture, James Cockburn said the demand for residue fee agricultural products was growing across the world. He said that the South Africa focused mostly on horticultural products and was a big exporter to the European countries.
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