The venture KAZSEED will be established in Kazakhstan to grow seeds of forage crops that would not contain gene modified organisms.
The memorandum on establishment of the joint venture on production of seeds with use of the latest technologies was signed between Kusto Group and Baumgartner Agriculture Science and Service (BASS), which is American service and research company in seed production.
The company will invest around $25 million in the first year.
The task of the venture is to supply farmers of Kazakhstan with quality, climate-adapted seeds. In future, the company plans to export seeds to the CIS countries.
Production of high-quality seeds will lead to increase of yield of forage crops, will significantly reduce prime costs for farmers and increase profitability of crop production.
