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VEB may enter the FIRST DONSKOY SUGAR PLANT project Press source:

Participation of Vnesheconombank in the FIRST DONSKOY SUGAR PLANT project was discussed the previous day at the meeting of State Corporation “Vnesheconombank” Chairman Vladimir Dmitriev and interim Governor of Rostov Region Vasily Golubev. Public affairs office of the Governor reports that the project contractor – INTERNATIONAL SUGAR CORPORATION – has already signed an agreement with the investor – UNVIA TRADING LIMITED. Nevertheless, financing will be provided in rubles and thus allow to obtain bank guarantee, explained Board Chairman of INTERNATIONAL SUGAR CORPORATION Dmitry Babanov. Vladimir Dmitriev stated that this sugar plant project is aimed at import substitution and competitive products development, and this is a determining factor for obtainment of Vnesheconombank support.
Let us recall that FIRST DONSKOY SUGAR PLANT construction in the Tselinsky district of Rostov Region should start this year. Implementation of this investment project is carried out by INTERNATIONAL SUGAR CORPORATION in cooperation with SUCDEN (France). Estimate plant capacity is 12 thousand tons of sugar beet per day. Estimated cost of the project is not less than 15 billion rubles since last adjustment, and 220 million have already been assimilated. The plant will provide 500 new jobs.

VEB may enter the FIRST DONSKOY SUGAR PLANT project