jubilant agro sciences signs agreement with agricultural chemical company manufacture pesticide chemicals

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ANI

Jubilant Agro Sciences Limited, a wholly owned subsidiary of Jubilant Ingrivia Limited, has entered into a manufacturing agreement with a leading agrochemical company for the production of an ‘agro intermediate’. The chemicals used in making various pesticides are called ‘agricultural intermediates’. The client company is valued at several billion dollars.

New Delhi. Jubilant Agro Sciences Limited, a wholly owned subsidiary of Jubilant Ingrivia Limited, has entered into a manufacturing agreement with a leading agrochemical company for the production of an ‘agro intermediate’. The chemicals used in making various pesticides are called ‘agricultural intermediates’. Jubilant Agro Sciences Ltd (JASL) has entered into a mutual confidentiality agreement with a customer for contract manufacturing of the chemical, Jubilant Ingravia said in a stock exchange filing.

Without disclosing the name, the company said the client company has a multi-billion dollar valuation and is a leading agro-chemical innovation company. The company said that under the agreement, the total investment will be repaid based on revenues of approximately $300 million from the supply of chemicals to customers over the next few years after the start of production. JASL will invest in the manufacturing facility and supply the chemical to the customer, the company said in a stock exchange filing without giving details.

Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.