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- Russian-Chinese Fund for Agro-Industrial Development has signed first agreements
Russian-Chinese Fund For Agro-Industrial Development (51% of the RCFAD managing company’s shares belong to the Far East Development Fund) and Russian agricultural holdings have singed the first project implementation agreements during the Eastern Economic Forum.
The partners of RCFAD in the Far East will be Ratimir Company, a largest meat processing company, and Amur Agro Holding, a largest crop-growing company in Amur region. Ratimir Company is planning to build a pig-breeding complex on the TASED “Mikhailovskaya” in Primorsky Krai. The enterprise capacity is 46 thousand tons of slaughter weight per year. The total project cost amounts to 15 bln rubles. The first pig-breeding factory of the complex is scheduled for launch in 2018.
Amur Agro Holding is implementing the project on the construction of the soybean and wheat deep processing plant in Amur region. The plant capacity is 180 thousand tons of soybeans and 110 thousand tons of wheat per year. The total project cost amounts to 2,9 bln rubles. The plant will produce protein isolate, which is currently not produced in Russia.
The projects will be financed according to the RCFAD’ standard system: 10% will be provided by RCFAD, 10 % - by initiator, the rest of 80% will be attracted by RCFAD from Russian or Chinese partner-banks. It is expected that some part of the products produced under the projects will be exported to China.