Bharat Rasayan Limited (BRL) announced that the company has executed a Joint Venture (JV) Agreement on 18th February, with Nissan Chemical Corporation (NCC), a Japanese agrochemicals company.
The joint venture will operate through a company named Nissan Bharat Rasayan Private Limited, a company incorporated in India.
This Joint Venture is expected to bring benefits to both the JV Partners i.e. Bharat Rasayan Limited and Nissan Chemical Corporation.
The newly formed Nissan Bharat Rasayan Private Limited will construct a manufacturing facility in India to produce various agrochemical active ingredients.
This joint venture enables NCC to expand its manufacturing base in India with the help of BRL.
As per the agreement, NCC will hold 70 per cent and BRL will hold 30 per cent of the total share capital of the joint venture company.
BRL is a manufacturer of technical grade pesticides, intermediates, and bulk formulations in India.