Apr 12, 2014 (LBO) - Sri Lanka's Bairaha Farms Plc, said it plans to take a 45 percent stake in Fortune Agro Industries (Pvt) Ltd, a 1.65 billion rupee feed mill venture with Farms Pride (Pvt) Ltd, another poultry group.
The project has received preliminary approval from Sri Lanka's Board of Investment for a 7-year tax holiday and to import or buy capital goods free of import duty, though the agreement has not yet been signed, the firm said in a stock exchange filing.
Farms Pride was already partnering Bairaha in Fortune G-P Farms (Lanka) Ltd, which has a 50 percent share in the country's broiler breeder parent chicks.
Farms Pride sells products under the 'Crybro' brand, according to its website, will have 45 percent of the company.
Fortune Agro Industries (Pvt) Ltd will have animal feed manufacturing and post harvest storage facilities.
The project has received preliminary approval from Sri Lanka's Board of Investment for a 7-year tax holiday and to import or buy capital goods free of import duty, though the agreement has not yet been signed, the firm said in a stock exchange filing.
Farms Pride was already partnering Bairaha in Fortune G-P Farms (Lanka) Ltd, which has a 50 percent share in the country's broiler breeder parent chicks.
Farms Pride sells products under the 'Crybro' brand, according to its website, will have 45 percent of the company.
Fortune Agro Industries (Pvt) Ltd will have animal feed manufacturing and post harvest storage facilities.
Related News:
http://www.cse.lk/cmt/upload_cse_announcements/8551397196995_.pdf
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