Usher Agro inks MoU with Japanese firm

{image-usher agro_10092008.jpg news.oneindia.in}New Delhi, Sep 10: Usher Agro Ltd, an agri-processing firm, on Wednesday, Sep 10 said it has signed a Memorandum of Understanding (MoU) with Japan's Satake Corporation for expanding the company's rice milling capacity by another one million tonne.

Under the deal, Satake will provide Usher Agro the plant and machinery for the interest-free credit period of three years. Besides, it will also extend technical know-how to the company for better use and production of bi-products of rice, a company statement said. The Uttar Pradesh-based agri-processing company has been given exclusive right to use the technology in the country for a specified period, the statement said. However, no financial details of the agreement were divulged.

UNI