Bayer to invest $65 million in Ukraine’s agriculture

Emmanuel Thomas, with DPA reports l Thursday, April 6, 2023

BERLIN – German pharmaceutical giant Bayer said on Tuesday it will invest €60 million ($65 million) in expanding its seed processing plant in Pochuiky in central Ukraine.

“We will do our part to support the reconstruction plan for Ukraine and ensure food security in the region and worldwide,” a Bayer spokesman told dpa after media reported the investment plans.

Before Russia’s full-scale invasion of Ukraine last year, Bayer already invested almost €200 million in the development of maize seed production in the country.

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The additional funds will be used to finance new agricultural equipment and the construction of two air raid shelters at the facility. Opened in 2018, the Pochuiky plant employs around 100 people on site and between 250-300 seasonal workers.

German Economy Minister Robert Habeck arrived in Ukraine on Monday with a business delegation. The aim of the trip was to give a clear sign of support and belief in a Ukrainian victory, Habeck said in Kiev.

Europe wanted to see Ukraine not only rebuilt but become an economically strong partner in the future, he stressed. Contrary to its usual practice, the German government had therefore decided to give guarantees for investments.