Agri Business

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

KV Kurmanath Hyderabad | Updated on July 25, 2014

Shreem Group to go for PE funding

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 ₹ 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 here on Friday 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.

“The Silicate tablets quickly dissolve into water. A kilogram of tablets would do for an acre,” he said.

Pharma plant

The company would manufacture a drug for Alzheimer’s developed by a Japanese company. “We are planning to invest Rs 25 crore on this project. We are interested in the Pharma City project being planned by the Telangana Government.

The pharma business contributes 13 per cent to the group’s turnover.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on July 25, 2014
This article is closed for comments.
Please Email the Editor