Today 26th May 2011 the Lanka Milk Foods PLC published announcement in Colombo Stock Exchange that the company Joint venture with India Based Tunip Agro Limited.
The Joint Venture is importing Fruit Pulp and Concentrates, process, Pak and Export Fruit Juices after value addition in Srilanka. The Joint Ventures is under the Indo-Srilanka Free Trade Agreement.
The newly created Joint Venture incorporated under the name of Indo Lanka Exports (private) Limited. The project is Rs.60 Million worth.
The Lanka Milk Foods PLC invest Rs.30.6 Million and holds 51% of its Indo Lanka Exports (private) Limited. The remaining 49% will be with Tunip Agro Limited by the investment of Rs.29.4 Million.