Agrochemicals maker Safex Chemicals Ltd on Tuesday said it plans to invest Rs 100 billion over the next 3-years in its new agCare Technologies. To launch an interactive technology platform and set up a manufacturing unit. Speaking to PTI, the company’s group chief Piyush Jindal said,
“We are investing Rs 100 crore from our kitty. We are not raising funds. The investment is planned for the next 3-4years.”
The plan is to launch an interactive technology platform to integrate the entire value chain of the agricultural economy. Key stakeholders, especially farmers, can buy quality crop protection products. They will get services like weather reports, expert help and mandi prices, he said.
“The pilot study of this interactive technology platform will be done in January-March. We plan to roll it out in the next financial year,” Jindal said, adding that the platform will be expanded in phases.
Jindal further said that a new manufacturing unit will be set up to meet the demand for existing and new products from the proposed platform such as animal nutrition solutions.
Safex Chemicals uses its existing knowledge to create a technology platform. The company has already invested in technology and plans to gradually expand the team, he added.
The company’s revenues should grow to 1220-1250 billion by the end of 2022-2022.
Currently, Safex Chemicals has six manufacturing facilities in India and one in the UK.
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