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HomePosts Tagged "Jain Irrigation"
Company News, Singapore, Trade, Water

Rivulis will finance the acquisition with additional investment from Temasek as well as newly issued shares to Jain India.

Singapore based Rivulis Pte. Ltd. has announced that it has received full regulatory approval for the acquisition of multiple overseas subsidiaries which comprise the International Irrigation Business (“IIB”) of Jain Irrigation. With this acquisition, Rivulis will lead the mass adoption of modern irrigation solutions and digital farming by growers and business partners to create an irrigation and climate leader globally. The acquisition has been finalized after all government authorizations and the precedent conditions required by the Share Purchase Agreement have been obtained and completed. Rivulis will finance the acquisition with additional investment from Temasek as well as newly issued shares to Jain India; In addition, debt issuances of Jain USA and NaanDanJain will be refinanced immediately post-Closing through a syndicated facility signed with leading banks including HSBC, Rabobank, State Bank of India, ING, Bank Leumi and the First International Bank of Israel.

Richard Klapholz, Rivulis CEO, commented: “As mentioned during the deal announcement last June, we are thrilled to have both companies join forces to build a long-lasting, purpose-led company, spearheading the transformation of agriculture through its focus on accessibility, innovation and sustainability. Since then, the employees of all companies have worked hard to jointly plan for this day, when we all become one company. Together, we will benefit from significant operational economies of scale and far reaching in-the-field presence, enabling us to be close to growers and business partners. We will also benefit from the most comprehensive micro irrigation and digital farming offering and most importantly from a fully committed, diverse employee base. I, wholeheartedly, welcome the Jain USA, AVI, IDC and global NaanDanJain teams and am certain that, as one company, we will become a formidable force as we establish ourselves as a global irrigation and climate leader. Water-efficient, environmentally sustainable technologies, such as micro irrigation, are needed to holistically address the global food and water security challenges. Together with our two shareholders, Temasek and Jain Irrigation, Rivulis’ next chapter will be an exciting one as we realize our GROW BEYOND mission to help growers achieve sustainable livelihoods and to become a global sustainability champion.”

Rivulis will finance the acquisition with additional

Agrotech, Sustainability

Sstudents participated in business plan and technology innovation contests

The Future Agriculture Leaders of India (FALI) Program recently concluded its 8th Convention at Jain Hills in Jalgaon. In its eighth year, FALI has established itself as a unique, high impact programme that makes agriculture attractive for the next generation by providing interactive learning, field visits, business plan contests, and exposure to cutting-edge agriculture and agribusiness. In the last academic year, FALI provided its programme to over 11,000 (eighth and ninth standard) students across 135 government-aided rural schools in Maharashtra and Gujarat. The number of FALI alums today totals 25,000, most pursuing higher education in science and agriculture and positioned to be future leaders of Indian agriculture.

In its first eight years, FALI has received strong support from several leading agribusinesses in India: Godrej Agrovet, Jain Irrigation, UPL, Bayer and StarAgri. At the FALI Convention, these companies participated along with leaders of over ten other agribusinesses and banks interested in supporting FALI 9 and beyond. These companies concur that the results of FALI have shifted the attitudes of students and their parents, who before saw subsistence farming as an unattractive career for their children. FALI students have taken home modern agriculture practices and with FALI, parents see modern, sustainable agriculture and agro-enterprise as a promising path for their children.

Over the next ten years, FALI is expected to increase the number of students and schools by 25 per cent a year in Maharashtra and Gujarat, adding Madhya Pradesh, Karnataka and Andhra Pradesh. At this rate, FALI would have backed the creation of over 2,50,000 future leaders of Indian agriculture in the next few years. The Board in its recent AGM also agreed on programmes for FALI alums, internships, scholarships and seed funding for FALI alumni ventures.

Commenting on the Board’s decision to expand the initiative’s reach, Nadir B Godrej, Chairman, Godrej Agrovet, and Chair of the Association for FALI, said, “Despite registering impressive growth by the sector, agriculture in India is losing its sheen with the next generation. We need to overcome economic, social, and psychological barriers jointly. FALI’s efforts have steered over 11,000 students towards modern and sustainable agriculture in the last eight years. Today, as the Chair of the Association for FALI, I am delighted to announce our plans to expand the footprint of this innovative programme to three more states of India. It aligns with our commitment to promote sustainable agriculture and agro-entrepreneurship among the next generation.”

At the FALI 8 Convention over 800 of the top FALI students participated in business plan and technology innovation contests which were judged by senior managers of companies which do or plan to support FALI.

Sstudents participated in business plan and technology