05 July 2012 13:36 [Source: ICIS news]
HOUSTON (ICIS)--Syngenta plans to invest close to $100m (€80m) in Argentina over the next 12 months, the Switzerland-based agrochemicals firm said on Thursday.
The investment includes $50m to build a processing plant for corn and sunflower seeds, as well as expansion of Syngenta’s existing seed development operations in Argentina.
Syngenta made the announcement after a meeting between CEO Mike Mack and Argentine president Cristina Fernandez de Kirchner.
“With its wealth of agricultural resources, Argentina is ideally placed to help satisfy growing global demand for food and feed,” Mack said.
“This latest investment by Syngenta follows our recent introductions of innovative seed technologies and further demonstrates our commitment to the Argentine market, as well as our confidence in the global growth of our corn and sunflower businesses,” he added.
($1 = €0.80)
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