In their endeavor to provide latest technology to farmers worldwide, two of the worlds leading agrochemical manufacturing companies Japans Otsuka Agri Techno Co. Ltd. (OAT) and Indias Insecticides India Ltd (IIL) are establishing an R&D centre in Chopanki, Rajasthan.
Establishment will be with an initial investment of Rs 40 crore, the R&D centre will start its operations at IIL premises by April 15 and fully operational by December this year.
Insecticides India Limited (IIL) and Oatsuka Agri Techno Co. Ltd. (OAT) entered into a joint-venture last year for research & development (R&D) of new agro chemical molecules in India for the international requirements.
The ground breaking ceremony was performed at the site of the R&D centre by Akihei Mori, Persident & CEO, Otsuka Agritecho Co. Ltd., Japan, Tetsuya Imai, MD & CEO, OAT-IIL, H.C. Aggarwal, Chairman, Insecticides (India) Limited, Rajesh Aggarwal, Managing Director, IIL in the presence of other delegates from India and Japan.
Spread across 4000 sqm next to IILs Bhiwadi plant, the state-of-the-art research centre will be the first of its kind, employing both Japanese and Indian researchers under the same roof.
In the initial stage a team of 20 scientists, will start research and development work on new molecules.
Later in December, when the building is inaugurated, the team will be augmented to 50, including scientists from Japan.
Tetsuya Imai, MD & CEO, OAT-IIL says, India is an attractive country due to its variety of soil and climate across the states. It is easy to establish an R&D center here so that we can identify-discover-examine and produce new agro-chemical molecules easily. Our target for next three years will be filing for 10 patents and discovering three promising molecules.
Rajesh Aggarwal, Managing Director, IIL said this new R&D centre would be totally focused on product discovery. The JV reflects our commitment in the direction to provide newer generation of products to the farmers worldwide at a competitive price, he added.