Octant Industries Limited, formerly Octant Interactive Technologies, has entered into a farming agreement for 1,000 acres with the farmers across the Sundergarh, Jharsuguda and Sambalpur districts of Orissa for farming castor plants.
The company will grow castor seeds and use it as a feed stock for castor derivatives manufactured at its plant located in Hyderabad, the company said in a press statement.
Manmohan Sahu, managing director, Octant Industries, said, "The company has manufacturing capacity of 7,200 million tonnes per annum. This will help the company ensure the raw material supplies in the forthcoming castor season and boost the export potential of castor prodcuts.
The company's scrip was trading at Rs 15.90, down 4.79% on the Bombay Stock Exchange.