The government of the Andhra Pradesh state in India has given its approval to Israel-based
Elbit Imaging company to build a giant dairy in the Chitoor district.
According to Indian reports, subsidiary company Elbit Agricultural Ventures will invest some $125 million in the project.
The dairy farm will stretch over some 346 acres and have about 10,000 cows. Part of the creamery will be set up in the Kadapa district.
The cows, which will have a particularly high milk production, will be imported from New Zealand. The dairy is expected to produce some 400,000 liters of mill a day.
Elbit Imaging's revenues totaled about NIS 216 million (about $55.7 million) in the first quarter of the year, compared to NIS 195 million ($50.2 million) in the first quarter of 2008. The net profit ascribed to majority shareholders' part amounted to NIS 21 million ($5.4 million), compared to a loss of NIS 27.3 million ($7 million) in the same quarter last year.
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