Wednesday, July 20, 2005

Sami Labs into Coleus cultivation

Bangalore based Sami Labs Limited as part of their program to expand Coleus cultivation will ink tie-up with the farmers in Kerala. Sami Labs intends to spread the cultivation of medicinally potential Coleus in association with the farming community, announced Dr Muhammed Majeed, Chairman & Managing Director, at a press conference.

The company will give seedlings to farmers having more than one acre of land. Besides they will assist in getting loan for cultivation through the bank and equip them with the agricultural practices. Coleus is a 6-month crop and farmers can make close to Rs 40,000 from an acre. Currently farming communities in Tamil Nadu, Karnataka, Andhra Pradesh, Punjab, Maharashtra are carrying coleus cultivation. The company will take the complete reap from the farmers.

Sami's turnover for the last six months stood at Rs 326 crore, whereas the projection for this year end is Rs 600 crore. Sami is exporting herbal extracts to European and African countries.

The company which holds 5 International patents and 14 US patents is also the recipient of the award for exports from the President of India.