Osiajee Texfab's wholly-owned subsidiary starts plantation of Poplar and Eucalyptus trees

20 Jul 2022 , 11:12 AM

Osiajee Texfab Limited has informed to the exchanges regarding commencement of new operations by company’s wholly-owned subsidiary Osiajee Agro Farms Limited.

As per the regulatory filing, it is informed that the wholly owned subsidiary has started the plantation of Poplar and Eucalyptus trees and cultivation of other crops (fruits and vegetables) over a land parcel of about 150 acres in Hoshiarpur district of Punjab.

“This is in line with the planned agro farming initiative of the subsidiary company which forecasts to plant around 5.5 lakh trees in a duration of 2 years on the above mentioned land”, the company said.

It further added that the yield of these plantations will be vended to nearby plywood industry as well as other wood grounded manufacturers.

At around 11:05 AM, Osiajee Texfab was trading at Rs60.20 per share lower by 4.14% as against previous closing of Rs62.80 per share on the BSE.