US $ one b nanotechnology pact signed

Ramani KANGARAARACHCHI

The Institute of Nanotechnology in Sri Lanka (SLINTEC) and the Nagarjuna Fertilizers and Chemicals Limited of Nagarjuna Group India entered into a strategic collaboration of US $ one billion to develop the next generation of nanotechnology based plant nutrition solutions. The signing of agreement held at Cinanmon Grand Hotel, Colombo yesterday.

India's High Commissioner Ashok K Kantha said this initiative taken by the leading manufacturer and supplier of plant nutrients in India and the leading technology institute in Sri Lanka in the key area of agriculture will further strengthen the economic engagement between the two countries.

SLINTEC Chairman Mahesh Amalean said these are next generation green products aimed at increasing productivity and income for farmers and creating a sustainable business for all the stakeholders engaged in agri-business.

He said the vision of the government is to make Sri Lanka a destination for nanotechnology research and development and this strategic partnership with Nagarjuna Group India is the first step towards achieving this vision. The government has contributed Rs 850million for this project.

This is an opportunity for SLINTEC to work with a global partner to take the product development journey from lab to land.

As Nagarjuna Group has an extensive manufacturing and marketing network in Asia ,Africa and South America and is deeply engaged in emerging technology development as a growth engine for the business.

This partnership is an association targeted to take technological and market leadership in the niche nano plant nutrition product space which will be a win win situation for both parties, Nagarjuna Group CEO R.S Nanda said. See also page iii