Business / Industry Sectors
Zuari Agro takes 50 pc stake in Zuari Rotem for USD 2 mn
07/01/2016
First Indo-Israel collaboration in the Indian fertiliser sector: Zuari Agro Chemicals Ltd has purchased a 50 per cent stake in its joint venture firm, Zuari Rotem Speciality Fertilisers, from its partner Rotem Amfert Negev

Zuari Agro Chemicals Ltd (ZACL) has purchased a 50 per cent stake in its joint venture firm, Zuari Rotem Speciality Fertilisers, from its partner Rotem Amfert Negev for about USD 2 million. 

"Zuari Rotem Speciality Fertilisers Ltd (ZRSFL), which was a joint venture of the company, has become the subsidiary of the company with effect from December 11, 2015," ZACL said in a regulatory filing. 

 

Zuari Rotem Speciality Fertilisers was a 50:50 joint venture between Zuari Agro Chemicals Ltd and the Israel-based Rotem Amfert Negev Limited. 

This was the first Indo-Israel collaboration in the Indian fertiliser sector. 

When contacted, Zuari Global MD N Suresh Krishnan confirmed the stake buy. 

Zuari Rotem was created to produce state-of-the-art, zero-waste, water-soluble fertilisers (WSF). These products dramatically improve agricultural productivity since WSF fertilisers are 100 per cent water-soluble, unlike other fertilisers.

 

Source: Business Standard

Have comments? Write to us | Send to a friend | Print |
Share |
ad
ad
ad
ad
ad
ad