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Fertiliser maker Coromandel International today announced its decision to form a joint venture with Yanmar of Japan to manufacture rice transplanters and combine harvesters.
While the Indian firm will hold 40 per cent stake in the joint venture, Yanmar, an agri-machinery maker, will hold another 40 per cent and Mitsui the remaining 20 per cent.
Coromandel currently offers farm mechanisation services on a limited scale to farmers in Andhra Pradesh, focussing entirely on paddy transplantation. It also sells sprayers and drip irrigation equipment through its retail outlets.
The joint venture will now help the company expand its services.
A Vellayan, chairman of the Murugappa Group, said the joint venture will be a “game-changer” that will help farmers improve productivity.
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