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Rusagro eyes Asian investor for pork project

Russian farming company Rusagro is seeking an Asian co-investor for its pork production project that will facilitate its entry into Far Eastern markets

The company CEO Maksim Basov said that Rusagro is interested in a minority strategic partner for the project, who would possess a 25 per cent stake in it.

Rusagro plans to create a base in Primorye, aside from production centres in Tambov and Belgorod regions, to export pork and other products to China. The firm was in talks with Chinese food processing firm COFCO Corporation about a partnership, but COFCO decided against investing in Russia, said Basov.

Rusagro is expected to begin construction of the first stage of the pork project later this year. Stage 1 will produce 100,000 tonnes of pork per year and will cost around US$395mn, part of which will be funded by a subsidised loan under the state programme of project financing, added the CEO.