Shreem Group plans big investment in Telangana Hyderabad, July 26 (INN): Shreem Group of Companies, which has net worth of Rs 2,200 crore, is contemplating to set up Farm Nutrient and Pharmaceutical Plant in Telangana. The Group's lead crop science managing director Vinod Lahoti said that the company was willing to start the unit with an investment of Rs 67 crore.
Addressing a press conference here, Vinod Lahoti said the Group was looking for investments in Real Estate, Pharmaceutical, Agri Inputs sectors. he informed that the company in association with the LCS Korean company Nousbo, preparing and selling the Siltrans (Silicon Effervescent Tablets) to reduce the usage of Nitrogen, Phosphate, Potassium (NPA) in the agricultural fields. The product is being launched in the market, he added. Lahoti said that only a Kg of Siltran would be sufficient for one acre.
Lahoti said that they were bringing this product for the first time in India. Very soon LCS would go for equity funding, he added. However, he could not specify to what extent the equity funding would be sought.
In 2013-14 in LCS, the company achieved Rs 100 Crore turnover. Lahoti informed that they have a proposal to invest Rs 25 Crore for setting up Pharma plant in Telangana. He also said that the company was developing drug useful to cure the diseases like memory loss and loss of appetite with collaboration of a Japanese company.
News Posted: 26 July, 2014
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