Riico, Jetro to extend agreement by a year

New Delhi, Jul 12 (UNI) Rajasthan State Industrial Development and Investment Corporation (Riico) has said it will extend its agreement with Japanese External Trade Organisation (Jetro) for a period of one year.

The memorandum of understanding (MoU) was signed between Riico and Jetro in 2006, under which the former would reserve an industrial space for Japanese companies here to enhance Japanese investments.

''We have allotted land to 14 companies, while five more companies have expressed their interest in setting up base here.

Looking at the positive response, we are extending the agreement on July 19 for a period of one year,'' Riico Managing Director B N Sharma told UNI.

The organisation expects to garner revenues to the tune of Rs 4,000 crore over the next five years from the current Rs 1,600 crore, he added.

Of the 588 acres of land, Riico has already allotted 222.48 acres of land to Japanese companies.

UNI SR RAR PM1319