Singapore firm to invest Rs 70 cr in Barasat based agri-lab
A Singapore-based company has decided to invest Rs 70 crore after entering into a partnership with EFRAC (Edward Food Research and Analysis Centre) laboratory at Barasat in North 24 Parganas.
The discussion with the Singapore based company Mandala Capital Limited that focuses on long term investment in the food and agri sector in the Indian sub-continent had initiated during the Chief Minister’s Singapore visit. Moreover, there was also a discussion on the matter during the Bengal Global Business Summit.
Dr Amit Mitra, the state finance minister, said that at present, 68 scientists work in the laboratory. With the investment, the number will go up to 150 and in the next three to four years there will around 300 to 400 scientists working in the laboratory.
The money will be utilised in bringing further development in infrastructure and capabilities of the laboratory. The group also has a plan to further invest the equal amount of money after it’s initially success.