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(From Business Line)
MUMBAI, April 10. IN a yet another contract farming initiative, Punjab Agro Industries Corporation (PAIC) has signed a memorandum of understanding with Escorts Ltd to undertake contract farming in an area of 50,000 acres for basmati, oilseeds and durum wheat during the kharif and rabi seasons of 2003-2004.
Escorts and PAIC will be finalising the implementation of business plan for development and installation of a modern silo-based grain handling, storage and processing system for durum wheat as a collaborative venture.
"Escorts will work with PAIC for facilitating contract farming for basmati rice and durum wheat in the …