INDIA: Indage to up Himachal profile
The Indage group is planning to set up two wineries in the North Indian state of Himachal Pradesh.
A memorandum of understanding has been signed between the Himachal state government and the group's subsidiary in the area. The company will invest INR600m (US$13.23m) in the project. The first phase will see the development of an apple-based winery (estimated cost INR400m) at Pragatinagar, while the second phase will centre on a new grape-based winery at Nagwain in Kulu. The two units are expected to have annual production capacity of about 15,000 tonnes of fruit.
According to the agreement, the state horticulture department will distribute planting material to the farmers and Himanchal Indage will also have the option to have agreements with the farmers for contract farming.
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