The joint venture will have a shareholding arrangement between IPL Biologicals and UKS holding 51 per cent and 49 per cent respectively.
IPL Biologicals Ltd. (IPL), India, the global leader in agri-biologicals with the widest portfolio of bio-fertilizers and bio-pesticides, and Uzkimyosanoat (UKS) a department of the Government of Uzbekistan for the promotion of investment and development of fertilizers and pesticides in Uzbekistan, have signed a Joint Venture Agreement (JVA) for the marketing, distribution, and production of the agri-biological (microbial) products in Uzbekistan. These bio-pesticides, bio-fungicides, and bio-fertilizers are the latest cutting-edge agri-input products that will replace dangerous chemical pesticides and fertilizers.
The joint venture will have a shareholding arrangement between IPL Biologicals and UKS holding 51 per cent and 49 per cent respectively. The anticipated cost for the entire project is over $ 25 million. As a result of extensive field trials on cotton and other crops with outstanding results, the Ministry of Agriculture, Uzbekistan, and UKS decided to get into a JV with IPL to bring these products to Uzbekistan for the benefit of Uzbeki farmers. IPL has already applied for registration of 11 bio-products after extensive field trials, and lab tox tests and has got permission for the same. The plan is to register more than 25 products in Uzbekistan which will cover the entire range of bio-fertilizers (nutrition management), bio-pesticides (pest control), and bio-fungicides (disease control) products, for cotton, vegetables, and other crops of Uzbekistan.
The Agreement was signed at the UKS office in Tashkent on 30th May 2023. UKS was represented by Timur Mukhamedjanov, Chairman of the Board, and Akbar Kurbanov Head of Investments. IPL was represented by Harsh Bhagchandka President, and Deepak Singhal Head of International Business.
On the joint venture, Harsh Bhagchandka, President of IPL Biologicals Ltd. Said, “We are thrilled to join hands with Uzkimyosanoat in this ground- breaking partnership that brings our cutting-edge agri-biological solutions to Uzbekistan. By replacing harmful chemical pesticides and fertilizers with our innovative bio-pesticides, bio-fungicides, and bio-fertilizers, we are not only prioritizing the health of crops but also that of our environment. This collaboration underscores our commitment to sustainable and responsible agriculture, and we look forward to positively impacting the lives of the farmers of Uzbekistan”.
Timur Mukhamedjanov, Chairman of the Board, Uzkimyosanoat Joint Stock Company commented, “The strategic collaboration with IPL Biologicals aligns perfectly with our mission to advance the agricultural sector of Uzbekistan. This joint venture signifies our commitment to fostering a greener and more productive farming landscape by introducing advanced bio-inputs that can boost yields while reducing chemical dependence. Together with IPL Biologicals, we are taking a significant step towards a more sustainable and prosperous agricultural future of Uzbekistan”.
This JV will benefit the farmers of Uzbekistan, especially the cotton farmers to reduce their dependence on chemicals while improving the yield and quality, in collaboration with the Agriculture Ministry and local Distributors. These biological products will also be taken to the neighbouring CIS countries through the JV.
