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Our Bureau

Mumbai , Sept. 6

JAIN Irrigation Systems Ltd's board of directors has approved the merger of Terra Agro Technologies Ltd with it.

Terra Agro, a 100 per cent export oriented unit and closely held, is involved in the cultivation and dehydration of vegetables for export.

Terra Agro holds assets in the form of new equipment, 1,200 acres of agricultural land, and green houses. Jain Irrigation also intends to use the Terra base in South India to produce and promote its agri product range such as drip, sprinkler, PVC pipes, TC banana, it said in a notice to the Bombay Stock Exchange.

Jain Irrigation has appointed valuation experts who are expected to submit their report in 2-3 weeks when the scheme of amalgamation would be finalised. The company has scheduled an annual general meeting of its shareholders on September 30.

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