First foreign-funded crop research center opens in China
27/10/2008 16:16
Swiss biotech company Syngenta has opened the first foreign-funded crop
research organization in China.
The Syngenta Biotechnology (China) Co Ltd, in
the Zhongguancun Life Science Park, would focus on improving yields and drought
resistance of crops like corn and soy, as well as conversion to
biofuels.
"China is increasingly recognized for the scale and caliber of its
biotech expertise in agriculture," said Wang Xun, president of Syngenta
Biotechnology China.
"Now that we have our own research base in Beijing, we
can accelerate innovation and offer powerful opportunities to work more closely
with Chinese research institutes, which is all the more relevant in a world that
sees higher global demand for crops, " he said.
Syngenta plans to invest
US$65 million (US$443 million) in the new center in the next five
years.
Syngenta was expanding its partnerships to contribute to further
growth in Chinese agriculture with seeds and crop protection technology, said
Dr. David Lawrence, head of the Syngenta Research and Development.
Earlier
this year, Syngenta took a 49-percent stake in leading Chinese corn seed company
Sanbei Seed Co Ltd, in Hebei Province, he said.
With approximately US$9.2
billion sales in 2007, Syngenta employs 21,000 people in more than 90 countries.
It is listed in Switzerland and New York.
Xinhua
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