Gujarat group to invest Rs. 67 cr in Telangana pharma, agri input plants.

The Rs. 2,200-crore Shreem group of companies plans to set up a farm nutrient unit and a pharmaceutical facility in Telangana with estimated investment of Rs. 67 crore.

The Gujarati group, which has interests in real-estate, hospitality, pharmaceuticals and agri inputs, has entered into an agreement with a Polish firm to manufacture specialty nutrients for agriculture.

'We will set up the Rs. 42-crore plant near Hydebad to manufacture the nutrients under licence from the European firm. We are ready with the project report and we expect it to be ready the December end,' Vinod Lahoti, Managing Director of Lead Crop Science (LCS), has said.

He said that the company entered into an agreement with the Korean firm Nousbo to market the tablets that could significantly reduce the usage of NPK fertilisers by farmers.

Vinod, who was recently with regard to promotional campaign for LCS' new product Silicate effervescent tablets, said the company would go for private equity funding shortly. He, however, did not answer a query on the quantum of funding.

LCS, which has a registered office in Hyderabad, registered a turnover of Rs. 100 crore in 2013-14.


HBL