By Mauro Orru

Bayer AG will pour 60 million euros ($65.7 million) into new equipment for its corn seed production facility in Pochuiky, Ukraine, underscoring the significance of the country's agricultural industry.

The German agricultural and pharmaceutical company said Wednesday that the investment includes a new seed dryer, agricultural field equipment, storage facilities and two new bomb shelters.

The plant, inaugurated in 2018, has some 100 on-site employees and about 250 to 300 seasonal workers. Bayer invested close to EUR200 million prior to the war to establish corn seed production.

The announcement comes after Bayer Head of Public Affairs, Science and Sustainability Matthias Berninger attended a small business delegation on a visit to Ukraine led by Robert Habeck, German Vice-Chancellor and federal minister for Economic Affairs and Climate Action.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

April 05, 2023 02:20 ET (06:20 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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