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German pharmaceutical and agrochemical company Bayer is investing €60 million in the development of its maize seed production plant in the Zhytomyr region. The funds will be used for the construction of an additional seed dryer, the purchase of modern field equipment, the expansion of warehouses and the construction of two bomb shelters on the site for the safety of workers.
These additional investments will help expand the plant’s capacity to meet domestic demand for maize seed and significantly strengthen Ukraine’s export position on the world market.
Before the full-scale invasion broke out, the company made a significant investment of around €200 million to establish corn seed production through a network of qualified Ukrainian farmers and a seed processing plant in the Zhytomyr region. Bayer is one of the largest investors in the region. Its taxes account for around 25% of the local community budget.
This was stated by Oliver Gierlichs, Managing Director & CFO of Bayer in Ukraine, at the forum “FIT for Ukraine: AGRI-PROCESSING”.
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More than 500 participants from over 50 countries attended the third FIT for Ukraine event.