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Spic Phi Seeds to set up plant in Andhra
R Ravichandran
Hyderabad, July 10 SPIC Phi Seeds Ltd, a 50:50 joint venture between petrochemical major Southern Petrochemical Industries Ltd (SPIC) and Pioneer Overseas Corporation of the US, is setting up a plant for `conditioning of seeds' and `cold storage of seeds'. The joint venture company is setting 5,000 MTPA seed processing plant at Yellampet in the RR District of Andhra Pradesh. The initial investment is estimated at Rs 25 crore in the plant, official sources told The Financial Express. Pioneer, the global leader in the production and marketing of hybrid seeds, will offer technology to the new plant, while the southern major will procure different seeds from outside and manage the plant, the sources said.The seed conditioning plant will process different seeds such as corn, grain, sorghum, pearl millet, sunflower, hybrid rice, mustard, etc with high quality standards to improve the per acre productivity and quality to the farmers. Both SPIC and Pioneer are raising funds through internal resources. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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