Lakshmi Overseas Industries

Lakshmi Overseas Industries Ltd has announce that the working of Punjab Greenfield Resources Ltd (PGRL), a wholly owned subsidiary of the Company.

PGRL is managed by professional team of officers drawn from different areas of cotton procurement, retail marketing and trade. PGRL is headed by Mr. D K Dhawan, Chief Executive Officer having three decade rich experience in Agri-business, commodity trade, import / export, distribution & logistics and has worked for 27 years in Food Corporation of India (FCI) at various senior positions. PGRL is ably guided by Mr. G S Dhiman, President (Agri-business) having experience in procurement of commodities, domestic & international trade, installing power projects and spinning mills.

PGRL is entering into "contract farming" of wheat, seed production and extension services for the welfare of Punjab as a part of Research and Development activities.

PGRL is in the process of procurement of cotton and is finalizing agreements with farmers to mop Best Quality Kinnows during the month.

PGRL has invited offers from the interested farmers of Punjab to undertake contract farming of wheat in 2000 acres to be grown / cultivated under the expert professional and scientific guidance of PGRL Team, Seeds, fertilizers and pesticides will be provided on subsidized basis from PGRL and advances to the farmers could be arranged through a Nationalized Bank. Low interest rates from Nationalized Bank arranged will certainly provide impetus to Punjab Farmers for adopting scientific agronomical practices to take up contract farming. Wheat produced under contract farming by PGRL will carry minimum yield guarantee and prices to be paid to farmers by PGRL under the prescribed agreement. Farmers will be paid prevailing market prices of wheat at the time of sale to PGRL.

PGRL proposes to enter import / export of commodities in the international market in near future. PGRL is all set to jump into consumer market shortly with a dozen products of wheat and rice initially, which will further be strengthened through pulses and spices for each kitchen requirements. Infrastructure activities are also being explored with the intention to contribute further in development of Punjab State.