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Grand Agriseeds Technology Inc to Set up Joint Venture with Companies including Yuan Longping High-tech Agriculture Co Ltd


Thursday, 2 May 2013 08:00pm EDT 

Grand Agriseeds Technology Inc announced that it will invest RMB 60 million to set up a joint venture with 11 companies including Yuan Longping High-tech Agriculture Co Ltd, Hefei Fengle Seed Co Ltd and Winall Hi Tech Seed Co Ltd, holding a 20% stake. The joint venture will be with a registered capital of RMB 300 million and will be operated as a hybrid rice molecular breeding platform. Yuan Longping High-tech Agriculture Co Ltd, Hefei Fengle Seed Co Ltd and Winall Hi Tech Seed Co Ltd will respectively hold a 43%, a 15% and a 3% stake in the joint venture. 

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