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BAYER HAS STARTED CONSTRUCTION OF PLANT IN UKRAINE
UKRAINE OPEN FOR BUSINESS
Mon, Sep 4, 2023
EUR60 mln will be invested in the construction of the Monsanto plant in Pochuiki village (Popelnyansky district, Zhytomyr region) by Bayer to produce corn seeds, said the head of Zhytomyr regional military administration Vitaliy Bunechko.
“Today together with the director of “Monsanto-seeds” LLC Vladimir Onishchenko laid a symbolic “time capsule” at the site of construction of new capacities of this enterprise. More than EUR60 million of additional investments during the war is the best evidence not only of international support for Ukraine, but also of the fact that large investors believe in our victory,” he wrote in Telegram.
Bunechko emphasized that Monsanto Seeds is already one of the largest seed plants in Eastern Europe. It provides corn hybrids not only to Ukrainian farmers, but also to agrarians in Romania, Hungary and France. After the construction of additional capacity, its potential will increase even more.
“Expansion of production is simultaneously the creation of new jobs in Zhytomyr region, increase of tax revenues to the budget, as well as foreign currency earnings, which is very important for the Ukrainian economy in war conditions,” he said.
At the same time, the head of Zhytomyr OVA noted the responsible position of Bayer, which in 2022, two months after the start of the full-scale invasion to support farmers who were sowing in super difficult conditions, gave them free of charge 140 tons of corn seeds of Monsanto selection.
The investment will reportedly be used to build a new seed dryer, purchase modern farming equipment, build storage facilities and two bomb shelters for employees. The plant employs about 100 full-time employees and 250 to 300 seasonal workers. The plant is one of the largest in the region.
Bayer is a multinational company that operates in the fields of medicine and agriculture. The company is headquartered in Leverkusen, Germany. In 2022, Bayer Group employed about 101 thousand people and its sales amounted to EUR50.7 bln.
The company has been operating in Ukraine since 1992 and is represented by the pharmaceutical division, OTC department, as well as the agricultural division. The total number of employees is 700.