Financial Daily from THE HINDU group of publications
Sunday, May 30, 2004
Financial Daily from THE HINDU group of publications Sunday, May 30, 2004 |
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Corporate
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New Projects Agri-Biz & Commodities - Floriculture NatSyn Flora to set up cut flower project in Sikkim R. Balaji
Chennai , May 28 NATSYN Flora Ltd is setting up a cut flower project in Sikkim for exporting temperate orchids. The Chennai-based NatSyn Flora Ltd is promoted by the Indian promoters of Natural Synergies Ltd, an export unit for cultivating tropical orchids. NatSyn Flora is putting up the project in Sikkim jointly with the Sikkim Government, which will hold 40 per cent and NatSyn 60 per cent, according to the NatSyn's Director, Mr K. Natarajan. NatSyn itself is a joint venture with an Australian promoter holding 49 per cent and the Indian promoters, Mr Natarajan's relatives, 51 per cent. Over two hectares land has been taken on a 99-year lease and the planting material is to be supplied by the Australian promoter. The project is estimated to cost about Rs 2 crore. The farm is being set up and production is expected late in 2005, he said. As a choice of location for a cut flower project, Sikkim is home to nearly 500 species of orchids, which thrive under temperate conditions. NatSyn plans to cultivate a temperate orchid, Cymbidium, which has an extensive market with each spike of the flower fetching about $10-12 in the international markets.
More Stories on : New Projects | Floriculture
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