Syngenta to set up Russian production plant
Syngenta has signed a letter of intent with the governor of the Russian federal region of Krasnodarskiy Krai to invest up to $85 million to construct a hybrid seed and crop protection production facility. The company expects to commence production of hybrid seed in 2015 and of crop protection products in 2016, subject to obtaining the necessary permits and approvals. Chief operating officer John Atkin says that the facility represents a significant economic opportunity for Russian farmers by enabling local production of key inputs. The company had sales of some $150 million in Russia in 2010 ( Agrow No 621, p 13).