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China’s Avgusto pesticide project called off
Jul. 4, 2016
The Avgust pesticide project is launched by Hubei Avgust Pesticide Ltd, who landed the economic development zone of the city in June 2015, being a joint venture established among Russian Avgust Company, Jiangsu Agrochem Laboratory company and Hong Kong Asia Agrochemical Ltd. The project concerns establishment of a 10,086-ton environment-friendly high-efficient novel pesticide technical and intermediate, which is planned to be completed in 2017. Its phase 1 is expected to bring about sale of Yuan 1.5 billion after completion.
On the 2nd June 2016, the environmental protection bureau of Qianjiang city published the EIA report of the project, showing that the project involves more than 80 kinds of pesticide technical including triazole fungicide, strobilurin fungicide, foramsulfuron-based sulfonylurea herbicide and dicamba. The conclusion of the environmental impact analysis at that time holds that the project is of fairly good economic benefit, social benefit and environmental benefit, and that the project is feasible taking into account the economic profit versus pollution control measures
Now in less than a month, the project which has passed environmental impact assessment is halted, calling an end to foreign company’s attempted pesticide production in China. Now it looks that foreign chemical industry players targeting at China for production of pesticide are faced with higher cost of risks, attributable to China’s stringent environmental compliance regulation, imminent industrial restructuring requirement and increased attention to natural resources.
Avgust Company is Russia’s largest chemical crop protection manufacturer and distributor, whose herbicide production capacity reaches 1,600 tons per month with product accounting for 20% of the total pesticide volume of Russia. It is said that this Avgust pesticide project has been included in Russia’s international cooperation project at national level.
Source: AgroNews
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