Tata Tea inks pact with China's Zhejiang Tea

New Delhi, May 8: Tata Tea today entered into a 70:30 joint venture with China's Zhejiang Tea Import and Export Company Ltd for manufacturing and marketing tea extracts at an initial investment of Rs 70 crore.

The amount will be funded through a mix of equity capital and borrowings, a statement said.

The JV company will be set up in the Economic Development Zone of Anji County, Zhejiang, PRC and manufacture of Green Tea Polyphenols, other green tea extracts, cold and hot water soluble instant tea, liquid tea concentrates and other value added tea beverage products.

UNI