Business Daily from THE HINDU group of publications
Thursday, Nov 08, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Nov 08, 2007 ePaper | Mobile/PDA Version |
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Corporate
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Alliances & Joint Ventures States - Andhra Pradesh Ascho, AP Agros tie up to set up food-testing lab Our Bureau Hyderabad, Nov. 7 Ascho Industries Ltd, Mumbai and the Andhra Pradesh State Agro Industries Development Corporation (AP Agros), have agreed to jointly operate a food-testing laboratory on a revenue-sharing basis. The project, to be run on a public private partnership (PPP) model, will be tried out for 10 years. AP Agros will undertake the responsibility of establishing the lab and operationalising it. AP Agros has invested Rs 5.75 crore so far and has further committed to improving the facilities through its own or Government funding. It will gain expertise in running food testing labs through the understanding. The lab is almost ready and the commissioning of various equipment will start by mid-November 2007. The full-fledged lab will be functional from January 2008. Ascho has taken the responsibility of running and maintaining the lab. It is already operating two labs in Hyderabad, according to a company press release. Getting businessAP Agros AP Agroswill help procure procurement of Government testing business from various departments. Ascho will share revenues to the extent of 20 per cent for the business generated by AP AgrosAP Agros. As per the agreement, Ascho will be free to generate business for the lab by marketing it to various industries and departments which want to test their food and pharma samples. More Stories on : Alliances & Joint Ventures | Foods & Food Processing | Andhra Pradesh
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