Indian firm Tata Tea recently entered into a joint venture
agreement with Zhejiang Tea Import and Export Company of China,
news website businessstandard.com reported Tuesday.
Quoting a release issued Tuesday by Tata Tea to the Bombay Stock
Exchange, the website said the agreement involves setting up a
joint venture company at Economic Development Zone of Anji County,
China's Zhejiang Province, for manufacture and marketing of green
tea polyphenols, other green tea extracts, instant tea, liquid tea
concentrates and other value-added tea beverages.
The project cost is estimated at US$16 million funded by a mix
of equity capital and borrowings.
(Xinhua News Agency May 9, 2007)