Elbit Medical Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) today signed an memorandum of understanding (MOU) with the Gujerat State government to set up, for $100 million, a modern dairy farm with 10,000 cows and an ultra-modern dairy plant that will produce basic and premium dairy products in the Indian state.
The project will be built on a 500-acre site allotted by the Gujerat State government. It will be built in stages and is due to become operational within two years after work begins. The dairy farm will utilize technology and expertise developed in Israel, and will also include massive modernized contract-farming activities for the production of the food materials required for the dairy farm.
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