Agro processing company Usher Agro today announced that it has entered into a memorandum of understanding with Japanese company Satake Corporation for expansion of rice milling capacity by another 1 million tonne.
Satake will provide plant and machinary for the interest free credit period for three years. Under the tie-up, the company will get the technical know-how for the use and production of bye products of rice and exclusive right of use this technology in India for a specified period.
The company's stock was trading at Rs 185.55, nearly 8.29 per cent higher than Tuesday's close.
