Today, Pan Global
reported its reception of a research and development report for its planned
hydroponic greenhouse operation in northern India. The company plans for the
greenhouse operation to be located specifically in Punjab, India. Pan Global’s
plan was put together by Dr. Amanjit Singh Josan, an agricultural consultant
with over 20 years of experience in horticulture, floriculture, agriculture
extension, and greenhouse technology.
The Company’s
management commented, “We believe there is tremendous opportunity within
India’s large market for our planned greenhouse vegetable production. Our goals
are to produce products of higher quality, available on a more consistent basis
and with favorable environmental attributes, such as limited or no use of
chemical fertilizer and up to 90% less use of water.”
Pan Global believes
the plan is a good start to its intent for the development of a Northern
India-based demonstration hydroponic greenhouse, in which the company will
refine and adapt growing techniques for various vegetables to local conditions.
Pan Global anticipates that the plan gives it a cost-effective strategy for
long-term scaling of this greenhouse operation.
Currently the
hydroponic industry in India is at a very young stage. There are small numbers
of professional operators, many of which are focused on floriculture. The
hydroponic greenhouse operation will be focused on vegetable crops, with
initial efforts emphasizing the production of a certain variety of peppers,
seedless cucumbers, tomatoes, and commercial flower crops. Anticipating the
availability of financing, Pan Global anticipates the design phase of the first
greenhouse facility will be completed by the end of its fiscal year in
September 2014. During the operation’s design and construction phase, Pan
Global will be moving to establish relationships with various local chain food
retails stores, high-end hotels, and other potential customers. These efforts
will be undertaken for the endpoint of directly marketing the greenhouse
operation’s production.
As previously
disclosed, on October 17, 2013 Pan Global’s subsidiary, Pan Asia Infratech
Corp. entered into a lease agreement for a five-acre panel in Punjab, India for
an initial term of 10 years. The company’s lease agreement entails that the
five-acre panel be used for the sole purpose of building and operating a
greenhouse growing facility. The Form 8-K for this disclosure can be found at:
http://www.sec.gov/Archives/edgar/data/1492617/000149315213002012/0001493152-13-002012-index.htm.
For more information
about Pan Global and its initiatives, please visit: www.panglobalcorp.com
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