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Russia’s largest agriculture holding considers greenhouse project

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Russia’s largest agriculture holding considers greenhouse project

The Board of Directors of Rusagro, which is one of Russia’s largest agriculture holdings, plans to discuss next week prospects of the project for greenhouses construction in the Tambov region of Russia, Director General of Rusagro, Maxim Basov, told reporters on Monday.

Maxim Basov pointed out that lifting embargo on the food supply from Turkey would not significantly influence the project: “Food import ban isn’t that important. Nothing matters more than a dramatic reduction of subsidies – and the project is very dependent on subsidies – in connection with the budget’s travails. Serious discussion is underway. I suppose that we will take a decision next week,” explained Mr Basov.

As a reference, in October, Rusagro owner, Vadim Moshkovich, announced that the group would make a decision on the greenhouses complex construction in the Tambov region until the end of the year, after the risks were assessed.

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