Tata Tea rejigs NIPO biz
Last Updated : Feb 20 2007 | 12:00 AM IST
<b>Tata Tea forms new firm for plantations</b><br><br>
Tata Tea on Monday said it would offload 80% of its stake in its North India Plantation Operations to a group of investors
and employees.<br><br>
While Tata Tea will retain 20% stake in the new company, IL&FS and Infrastructure Finance Corporation (IFC), will also
pick up 20% stake each in the company.<br><br>
R K Krishna Kumar, vice-chairman, Tata Tea, said the company had permission to plant non-tea crops in 5% of the area in
Assam, where the company had already entered floriculture, vegetable farming, spices and fisheries.