Monday, March 29, 2010

Kanan Devan Hill Plantation company forays to Vietnam, Ethiopia

KOCHI: Kerala based Kanan Devan Hills Plantations Company (KDHPC), the largest producer of tea in South India, would be expanding its operations to Vietnam and Ethiopia.

In Vietnan, KDHP would form a Rs 60 crore Joint Venture with Lam Dong Tea Joint Stock company (LADOTEA) and have upto 60 per cent equity participation to set up units to process and manufacture Black, Instant, Green and Flavoured teas in South Vietnam.

The MOU, signed between T V Alexander, KDHP Managing Director and Doan Trong Phuong, Managing Director LADOTEA recently, would allow KDHP to invest upto 60 per cent in the equity of the newly formed company, Alexander told a press meet here Monday.

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