Bio-on signed an agreement with the Russian TAIF JSC group, which will acquire a license to build the Russian Federation's first plant producing 100% natural and biodegradable PHAs bioplastic, in the Republic of Tatarstan. The agreement was signed in the Kremlin in Moscow as part of bilateral meetings between Italy and Russia, in the presence of Russian Federation President Vladimir Putin and Italy's Prime Minister Giuseppe Conte. The agreement is worth a total of €17.6 million (as anticipated in the presentation of the half-year results). In particular, 5.6 million goes on licensing Bio-on's exclusive technology to produce PHAs from sugar beet by-products; 12 million goes on the supply of plant components built according to Bio-on's proprietary technology. The industrial group TAIF JSC, operating in the traditional petrochemical sector, will invest a further €90 million in building a 10,000 tons/year production site expandable to 20,000 tons/year in the future. The plant, the design of which will begin next month, will be operational in 2020.