“The Times of India” reports that the Andhra Pradesh state government has approved establishment of a dairy farm by Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) UNIT Elbit India Agricultural Ventures to be located in Chittoor and Kadapa districts. The paper adds that the dairy farm could be the largest in India.
The project would cover 350 acres (1,400 dunams) at Palamaner in Chittoor and Pulivendula in Kadapa district. It will have 10,000 high milk yielding cows imported from New Zealand.
Elbit Imaging chairman Mordechai Zisser controls they company through Europe Israel MMS Ltd. The company develops and owns malls, hotels, and other properties in Israel, Europe, and India through Plaza Centers NV (LSE:PLAZWSE:WLZ) and other subsidiaries. It also owns life sciences companies InSightec Ltd. and Gamida-Cell Ltd., retail operations, and other interests.
Elbit Imaging’s share closed at $20.95 on Nasdaq on Friday. The share rose 0.8% by midday today on the TASE to NIS 82.13.
Published by Globes [online], Israel business news - www.globes-online.com - on July 5, 2009
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