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Lanka Milk Foods Sets Up Joint Venture With Tunip Agro India

Lanka Milk Foods Plc has set up a joint venture with India’s Tunip Agro Ltd. to process and export fruit-based beverages, according to a Colombo Stock Exchange filing.

Lanka Milk Foods invested 30.6 million Sri Lankan rupees ($279,000) and held a 51 stake in the venture, while Tunip made an initial commitment of 29.4 million rupees and held the balance 49 percent shares, the filing showed.

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