Shimla: A memorandum of understanding (MoU) was signed on Monday between the Himachal Forest Development Corporation and Indian Synthetic Rubber(ISRPL) of Panipat for providing basic engineering package for preparation of special type of rosin acid.
The MoU was signed by Managing Director of the Corporation C.S. Singh and Managing Director of ISRPL Sanjay Bhatnagar.
A spokesman said currently the disproportionate rosin was being imported from other countries. This was the first effort to prepare special rosin acid which would be further provided to ISRPL.
The official claimed the state run corporation had ensured increase in its income during last four years and it earned Rs. 247crore to the state exchequer through royalty, various taxes and marketing fees.