Drip Irrigation Company Netafim Wins $100 Million Irrigation Contract in India
CTech – Israel-based drip-irrigation company Netafim announced Monday it has secured a $100 million irrigation contract in India. Considered a pioneer in smart irrigation, Netafim will install precision irrigation systems in 100 villages across India as part of four large community irrigation projects.
Netafim was founded in southern Israeli Kibbutz Hatzerim in 1965. The company has made a name for itself developing water-efficient irrigation systems that deliver water directly to the plant instead of the soil. Today, Netafim employs over 4,500 people in 17 manufacturing plants and operates in over 110 markets through 29 subsidiaries. Netafim itself is a subsidiary of Mexico-based pipes and chemicals company Mexichem SAB de CV, which bought an 80 percent stake in the company in February 2018 at a $1.9 billion company valuation.