Vietnamese, Thai firms to pour $4 bln into Russian dairy production – eDairyNews
Countries Russia Vietnam |19 mayo, 2016

Foreing trade | Vietnamese, Thai firms to pour $4 bln into Russian dairy production

Asian businesses plan to invest around $4 billion in milk and dairy production in Russia, helping Moscow replace imports hit by trade sanctions on traditional suppliers.

Russia banned many Western food imports, including dairy, in 2014 in retaliation for sanctions over Ukraine, creating supply shortfalls and spurring investments in its agricultural sector.

Vietnamese dairy producer TH Group began building milk farms in the Moscow region on Wednesday as part of a 10-year project worth $2.7 billion.

Separately, the state-backed Russia Direct Investment Fund (RDIF) announced plans on Wednesday to sign an agreement with Thailand’s Charoen Pokphand Group (CP Group) on joint investments in the construction of a $1 billion milk and dairy complex in the Ryazan region of Russia.

«It’s not the easiest time for our country. We live in conditions of food sanctions and when the Vietnamese government supports us, it means a lot to us,» Alexander Tkachev, Russian agriculture minister, said at a ceremony marking the start of construction of TH Group’s farms.

The first stage, worth $500 million, will lead to the production of 800 tonnes of milk and products a day that are expected to reach the Russian market next year, said TH Group Chairman Thai Huong.

CP Group and RDIF did not immediately provide details of their project. (Reporting by Olga Popova, Polina Devitt, Oksana Kobzeva; writing by Maria Kiselyova; editing by Adrian Croft)
Source: DailyMail


Legal notice on Intellectual Property in digital content

All information contained in these pages that is NOT the property of eDairy News and is NOT considered "in the public domain" by legal regulations, are trademarks of their respective owners and recognized by our company as such. The publication on the eDairy News website is made for the purpose of gathering information, respecting the norms contained in the Berne Convention for the Protection of Literary and Artistic Works; in Law 11.723 and other applicable norms.

Any claim arising from the information contained on the eDairy News website will be submitted to the jurisdiction of the Ordinary Courts of the First Judicial District of the Province of Córdoba, Argentine Republic, with a seat in the City of Córdoba, to the exclusion of any another jurisdiction, including the Federal.

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

Related news