New Delhi, Nov 7: Ashco Industries Ltd, a bio-services company and supplier of analytical equipment, today said it has entered into public private partnership (PPP) agreement with Andhra Pradesh State Agro Industries Development Corporation Ltd (APAGROS) to operate the food testing lab on revenue sharing basis.
The agreement is for the period of 10 years, a company statement said.
As per the agreement, APAGROS will undertake the responsibility of establishing the food testing lab with all the required equipment and accessories. Both have already infused Rs 5.75 crore for setting up the lab and further committed to improve the facilities of the lab through self or Government funding, the statement added.
Commissioning of the equipment for the laboratory will start by mid of this month. The laboratory will be functional from January next year.