International Sugar Corporation

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A Message from our General director Press source: Press Centre of ISC JSC

Dear Friends and Partners,

I welcome you to our website where you will be able to obtain reliable information on the implementation of our project.

Personally myself and jointly with my team, we conducted a large-scale work on the development of the project for construction of the first sugar plant in Rostov region with processing capacity of 12 thousand tons of sugar beet per day, providing power increase possibility up to 20 thousand tons per day in the future. The plant will produce high-quality sugar ICUMSA 18-45, molasses and granulated pulp (180, 50 and 50 thousand tons per year, respectively).

Sugar is a strategically important product and the trend of recent years has been to meet domestic needs and was aimed at reducing sugar imports. Currently, the Russian market is fully saturated with Russian-made sugar, while only 7-8%% of the sugar produced in Russia has a quality acceptable for export.

Our project was initially export-oriented. Especially when against the backdrop of a changing political world, sugar exports can strengthen trade relations with some leading countries, such as friendly China.

First Don Sugar plant’s production is designed to bring benefits and prosperity not only to its creators, shareholders and our partners, but also, not least, the project will provide jobs for about 500 employees and release construction of modern apartments for them.

Our company continues to follow its originally chosen course, aimed for producing high-quality products in the sugar industry and supply our production for export.

At the initial stage, the Founder of the project (ISC JSC) attracted companies with world-famous design experience (DE SMET ENGINEERS & CONTRACTORS (Belgium), SUCDEN (France)), along with Russian highly qualified specialists. All the work was done by them efficiently and together with our colleagues, we went from the Idea of the Project to getting a Positive expert opinion and a Construction permit. The achievements of the project consist in practical actions that are obvious to all who are familiar with the history of the project, and in developing a strategy for moving forward on the full cycle of the project until the plant is launched in 2022.

Together, we have overcome a non-easy path in the face of constant changes, the changing political situation in the world and the conjuncture of currency markets. Initially, the cost of the project according to the business plan was 10 Billion rubles, but as a result of the currency crisis in the country, the cost of implementing the project increased to 16-17 Billion rubles. All this could not but affected our plans and we went through a thorny path from the largest taxpayer to a complete loss of business direction, and rebirth thanks to the unwavering spirit of our team and the search for new solutions. Again, the pandemic continues to affect some of our company's plans, but taking advantage of the achievements of the modern digital world and technological progress, we continue to do our job.

As somebody famous said: "It is impossible to play a Symphony alone. It needs a whole orchestra" - Halford Luckcock

We would like to thank the Government of the Rostov region and personally the Governor of Rostov region Mr. V. Y. Golubev, First Deputy to Governor of Rostov region Mr. V. G. Goncharov, the Ministry of Agriculture and Food of Rostov region, represented by the Minister of Agriculture and Food Mr. K. N. Rachalovskiy - for constant monitoring of the project in the framework of "100 Governor's Investment projects", the provision of support to the project at all levels and holding the working group meetings during the visits of our Investors to the Rostov region in 2019. Due to the implementation of construction of the necessary infrastructure by Rostov Authorities at the territory of the project, efficiently and on time, the project eliminates industrial risks. There is a construction of a water pipeline started in the Tselinsky district of the Rostov region in March 2020.

It is impossible to mention everyone in the context of this appeal, but we appreciate everyone and every reliable partner on our way and at all stages of our project implementation. Of course, among them our shareholders and employees. In general, our team acts as a united organism on the way to achieving the company's strategic goals.

I would like to emphasize the contribution of Investment Development Agency of the Rostov region (AIR) and personally its Leader Mr. I. V. Burakov, The Honored worker of agriculture and strategic partner in creating the Raw material base of the project Mr. V. A. Cherkezov, Sugar industry expert and business consultant Mr. D. A. Zhuasbekov, General Director of Westeros, Llc. Mr. F. O. Semenov, and especially give our thanks to them for their high professionalism, constant attention to the project and to our Investors, for their assistance in implementing the consistent plan developed for and by the project.

Separately and warmly, I thank the First President of Kalmykia, State and political figure Mr. K. N. Ilumzhinov for the International relations involved in our project, our Representative and Partner in China and Central Asia Mr. H. Emam, and our esteemed partners from China, represented by its Leader Mr. G. Liu - for reliable partnership and clear fulfillment of their obligations under written agreements of cooperation, for incessantly work on a recapitalization of the company, incl. in order to comply with the requirements established by Russian banks to our project in response to our appeals, and funding of the project, organized with appropriate support of audit and legal companies, structuring the carrying out of the construction issues and marketing of future production by our sugar plant, for overcoming the challenges associated with the pandemic.

Again, I want to stress out that only a Team can win the Championship. I don't think there's one person who's smarter than all of us. And we are proud to achieve our goals, because we rely only on conscientious business partnerships.

We hereby would like to remind about the responsibility for disclosure of confidential information, and urge everyone to comply with the rules and regulations of business conduct, business ethics. All official information about the project is published by authorized persons at our website: sugarinter.com. When using the information, a link to the website is required.

In conclusion, I would like to say that without a doubt the success of our project depends on many factors, but as Albert Einstein once said: "Anyone who wants to see the fruits of their efforts immediately must become the shoemaker."

Yours sincerely,
General Director of ISC JSC
Mr. P. M. Panteleev

Photo: ISC JSC

Phone: +7 (499) 888-90-08

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