Rallis India’s wholly-owned subsidiary Metahelix Life Sciences (Metahelix), has entered into a Joint Venture (JV) with Indonesian local partner for the establishment of a seed production and distribution company viz. PT Metahelix Lifesciences Indonesia. Metahelix will have 49% stake in the PT Metahelix Lifesciences Indonesia.
The current paid up capital of the JV entity is $1,25,000 which will be increased to $2,50,000 by March 2017. Metahelix and the JV partner will invest in the paid up capital to the extent of their share in the JV, viz, 49% and 51%, respectively. The JV company will engage in the activity of seed production, processing and/or packing, importing or purchasing parent seeds and distributing and trading of JV seeds under any model of distribution within the area of the Republic of Indonesia. The objective of the formation of this JV is to expand the Metahelix’s seed business in relevant crops in South-East Asia.