27th February 2017
Cultivating the growth of India’s agriculture
InfraCo Asia’s first hydroponics project will boost sustainable crop yields
InfraCo Asia has signed a Joint Venture Agreement to develop a 9.3 hectare hydroponics agricultural facility in Junga, north India.
The project will establish commercial-scale greenhouses and a hi-tech automated nursery which will produce herbs and vegetables for sale and export.
Junga Hydroponics will support the continued growth of India’s agricultural sector, and provide direct employment to around 100 people once it is operational.
“InfraCo Asia is pleased to bring the necessary leadership and development capital to a project which promises to demonstrate cutting-edge agricultural innovation in India,” said CEO Allard Nooy.
India’s agricultural sector generates 18 per cent of the country’s GDP and provides employment to almost 60 per cent of the workforce. The Junga facility will form part of action to further improve agricultural output, efficiency and sustainability, and mitigate the impact of unpredictable climate.
Yields in crops such as lettuce can be up to ten times higher under greenhouse conditions than those achieved through conventional farming techniques.
InfraCo Asia will invest US$1.1m in the two-phase project, which has a total value of US$4.45m. It is also being supported by PIDG’s Technical Assistance Facility (TAF), which is providing financial assistance of US$800,000 for a training programme on hydroponic agriculture for small farmers.
Working with local partner Junga FreshnGreen Pvt. Ltd, InfraCo Asia is ambitious that the project will provide a template for similar future investments in India’s agriculture sector.
Read the full release on InfraCo Asia’s website.
Details of all PIDG projects which have received support from InfraCo Asia can be found on data.pidg.org.