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Rusagro froze the investment project because of reducing state support of agrarian and industrial complex

 

On November 18, Rusagro board of directors made the decision on freezing the construction project of a greenhouse complex for 24 billion rubles because of insufficient state support of agricultural industry for 2017. "The company can't expect receipt of all privileges, such as subsidizing of interest rates and compensation of capital costs, in full", – Rusagro director of investments Svetlana Kuznetsova explained the project stop reasons.

 

Rusagro planned to build greenhouses on 100 hectares in the Tambov region and to grow up there cucumbers, tomatoes and salad, the CEO of holding Maxim Basov in December, 2015 told. According to Kuznetsova, capacity of the first greenhouse complex shall make 90 000 tons of vegetables a year. In total Rusagro was going to construct 300 hectares of greenhouses and to become the producer of greenhouse vegetables. This complex should be largest in the country, with market share of 20%, Basov noted.

 

The declared greenhouse project of Rusagro – it is rather, "craze" on a wave of potential investors interest in an industry stirred by promises of state support, the CEO of "Growth Technology" research company Tamara Reshetnikova notices. "Against the absence of background of real experience in management of greenhouse business and availability of already working and checked directions for investments, and also ambiguity of state policy on support of producers the decision of Rusagro looks logically".

 

Authors of article: Anastasia Ivanova, Irina Skrynnik
It is possible to read the complete text of article in the Vedomosti newspaper (release No. 4208) of November 22, 2016



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