Russia’s ASB Grp to build 24 bln rbl sugar plant, ag facility

SAMARA, Jun 9 (PRIME) -- Acting Governor of the Ulyanovsk Region Sergei Morozov and Yury Khokhlov, CEO of agricultural company ASB Group, signed a 24 billion ruble investment agreement for construction of a sugar plant and an agricultural facility in the region, the regional government said in a statement Thursday.

“There are no plants with similar capacity in the country. There is also only a small number of them in European countries. Construction of the new plant is an additional stimulus for development of the industry and agriculture in general,” Khokhlov said as quoted by the statement.

The facility will produce, store and process oil-bearing-crops, grains, and beetroot. The plant’s projected capacity is expected to stand at 20,000 tonnes of beetroot per day. The project will create 1,750 jobs, the government said.

(64.6797 rubles – U.S. $1)

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