Renovo Orgsyntes to build first glyphosate plant in Russia
Russian chemical group Renovo Orgsyntes is to invest up to $150 million to construct a facility for the production of the herbicide, glyphosate. It is expected to be the first glyphosate production facility in the country and will be located within Russian chemical producer Himprom's facilities in the city of Novocheboksarsk. Renovo Orgsyntes is in talks with around ten Chinese companies to procure technology to produce the active ingredient. The company says that the facility's production will produce "significant" profits as the market for glyphosate has greatly increased in Russia and the CIS in recent years. It estimates the market to be growing at some 9% annually and expects it to touch 50,000 tonnes by 2020. The plant is expected to be built by 2017.