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Mar 24, 2016 (LBO) – Sri Lanka’s Watawala Plantations, one of the largest tea plantation companies in the island has entered into a Joint Venture Agreement with PADC Holdings in Cayman to set up a new dairy farm.
As per the agreement entered with PADC Holdings today, the dairy farm will be set up in one of their estates through a subsidiary namely Watawala Dairy Ltd, the company said in a stock exchange filing.
The expected equity investment in Watawala Dairy would be around 1.0 billion rupees of which 59 percent would be contributed by Watawala Plantations.
PADC Holdings is a fully owned subsidiary of Duxton Asset Management Singapore.
Duxton manages assets of about 690 million US dollars, of which 460 million US dollars comprises agricultural investments, Watawala Plantations said.
“It has operating investments on five continents and is currently working on live projects in Latin America, Australia, the Pacific, the Caribbean and Africa for its existing client base,” the company said.
“The company is regulated by the Monetary Authority of Singapore and has offices in Singapore, Australia and Germany.”
As per the agreement entered with PADC Holdings today, the dairy farm will be set up in one of their estates through a subsidiary namely Watawala Dairy Ltd, the company said in a stock exchange filing.
The expected equity investment in Watawala Dairy would be around 1.0 billion rupees of which 59 percent would be contributed by Watawala Plantations.
PADC Holdings is a fully owned subsidiary of Duxton Asset Management Singapore.
Duxton manages assets of about 690 million US dollars, of which 460 million US dollars comprises agricultural investments, Watawala Plantations said.
“It has operating investments on five continents and is currently working on live projects in Latin America, Australia, the Pacific, the Caribbean and Africa for its existing client base,” the company said.
“The company is regulated by the Monetary Authority of Singapore and has offices in Singapore, Australia and Germany.”
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