Russia: Rusagro intends to expands its land to 0.55mn hectares by 2015
2011-06-01 17:21:07
Rusagro group intends to expand its land to 550,000 hectares in 2011-2015. The company specialises in production of grain, sugar beet, feed, and in cattle breeding. The group plans to invest RUB 1.04bn (EUR 26.06mn USD 36.86mn) in acquisition of the right of ownership and the tenant right to land, RUB 3.94bn in equipment for land cultivation.
Land is planned to be acquired in the Tambov and Voronezh regions (Centre). In particular, it will be used to expand the raw material base for the company's sugar mills. As of March 2011, the group controlled 380,000 hectares of land, mainly in the Belgorod region (Centre). The group's revenue totalled RUB 30.96bn under IFRS, profit RUB 5.16bn.