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Canadian firms in raft of MoUs

BS Corporate Bureau

The Canadian mission, which is on a six-day visit to India, has signed about 18 memoranda of understanding and joint ventures with various Indian companies.

The major MoUs signed in the food processing sector include Bikanervala Foods tying up with Starbiz Enterprises, Toronto-based Juice Zone tying up with Cogent Intrade, AERC with Summit Seeds and Phoenix Agri-Silica Corporation tying up with LT Overseas.

These MoUs were signed at the sidelines of the 'Indo-Canadian seminar on business opportunities in agri-foods'.

Bikanervala has appointed Canada-based Starbiz Enterprises to act as non-exclusive distributor for sale of Bikano products in Canada. The Indian food company has set a sales target of 15 full container loads in the first year, 20 fcl in the second and 25 fcl by the year 2005.

Juice Zone has appointed Cogent Intrade to hold master franchise rights for setting up outlets in India for fresh fruit juices and fruit juice-based desserts. Cogent, who will in turn appoint area-wise franchisers, plans to set up about 100 outlets across the country.

Another Canada-based AERC Inc has signed up with Chandigarh based Summit Seeds for studying the technical, commercial and environment feasibility of growing hybrid sees of forage sorghum, winter sorghum, grain and forage pearl milet in India. The Indian company will in turn pay 10 per cent of the net sale of seeds to AERC as royalty.

Phoenix Agri-Silica Corporation also signed up a joint venture agreement with LT Overseas for the production of silica ash in the country.

Speaking at the occasion, the joint secretary in the ministry of food processing Vibha Puri Das said the Indian government and industry was looking forward to Canadian know-how and participation in terms of developing infrastructure for agriculture, which include setting up the cold chain, silo management and even the food parks. She said that Canadian participation is also being sought in developing clusters across the country.

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