UK-based Dena Technology Limited will have a 20 percent equity stake in the firm and Dena Nano Technology Pvt Limited of India 10 percent, the report quoted managing director K.
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Ketheeswaran as saying.
The plant is expected to cost 5 million sterling pounds.
The British partner in addition to providing the technology will also support the sale of products to their clients in Europe and the Middle East.
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Old tyres are an environmental problem in many countries as they do not degrade quickly and emits toxic fumes when burnt.
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