Swiss Syngenta will construct plant in Russia
Syngenta, according to in-house information one of the world’s leading companies with more than 26000 employees in 90 countries and focused on bringing plant potential to life through world-class science, global reach and commitment to customers to help to increase crop productivity, protect the environment and improve health and quality of life, plans to construct a hybrid seed and crop protection facility with an investment of USD 85 million in Russia
The letter of intent was signed on September 21, 2012 jointly by the Governor of Krasnodarskiy Krai, Russia and John Atkin COO of Syngenta. Atkin commented “Technology will play a key role in realizing Russia’s ambition to intensify its agriculture sustainably. This also represents a significant economic opportunity for Russian farmers. It is therefore vital that they have access to high quality crop protection products and hybrid seeds and the intended investment will enable local production of these key inputs”.
Subject to obtaining the necessary local permits and approvals, Syngenta expects to start production of hybrid seed in 2015 and of crop protection products in 2016.
The investment underlines a long-term commitment to Russian agriculture and will include working closely with the authorities in Krasnodarskiy Krai, a region at the forefront of the sustainable development of Agriculture in Russia.
It has to be added that the business Syngenta is engaged in is very successful and on September 24, 2012 the firm upgraded the sales targets: For key crops – among also cotton – to reach USD 25 billion by the end of this decade and by accelerating the rate of innovation. Rice and vegetables have now a target of USD 5 billion.