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| Exchange Received Time 23/11/2017 17:50:31 Exchange Disseminated Time 23/11/2017 17:50:37 Time Taken 00:00:06 | The Board of Directors of the Company has given in-principal approval to form a Joint Venture(JV) with MetzerPlas Cooperative Agricultural Organization Limited which is one of the largest and most specialised manufacturers of Drip Irrigation Solutions from Israel.
The Drip Irrigation business holds immense potential in India and is one of the focus sectors of the government. The current domestic industry size is estimated at over Rs 5,000 crores and under the Honb'ble prime minister's flagship scheme Pradhan Mantri Krishi Sinchai Yojna (PMKSY), we expect this sector to grow at a robust pace and for the JV to become a major player in it in the years to come.
Detailed terms and conditions are yet to be decided and will be informed to the Exchange separately when things will get finalized.
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