Syngenta to Build New Seed, Crop Protection Facility in Russia

By CnAgri2012-09-24 19:32:57 Print

Syngenta, in conjunction with the Governor of Krasnodarskiy Krai, Russia, has signed a Letter of Intent to invest up to $85 million in the construction of a hybrid seed and crop protection production facility.

"Technology will play a key role in realizing Russia's ambition to intensify its agriculture sustainably," said John Atkin, Chief Operating Officer. "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. Our intended investment will enable local production of these key inputs."

Subject to obtaining the necessary local permits and approvals, Syngenta expects to commence production of hybrid seed in 2015 and of crop protection products in 2016.