Nissan Chemical to set up pesticide joint venture in India
NEW DELHI, NNA - Nissan Chemical Corp. has reached a joint venture deal with an Indian pesticide firm to produce and export agrochemical ingredients to meet growing overseas demand.
The Japanese firm said last week it will inject about $60 million to launch its first overseas joint venture with Bharat Rasayan Ltd.
Capitalized at 1.5 billion rupees ($20 million), Nissan Bharat Rasayan Pvt. Ltd. will be established in Gurgaon in the northern state of Haryana, with Nissan Chemical holding a 70 percent stake and its Indian partner the remaining 30 percent.
The joint venture will build a manufacturing plant in the western state of Gujarat early in the financial year beginning in April 2022, a Nissan Chemical spokeswoman told NNA on Thursday.
The plant will employ approximately 150 to 200 people when it is operating at full capacity, she added. (NNA/Kyodo)