The board of Directors of Rusagro Group made a decision to freeze the project for construction of a greenhouse complex in the Tambov region, as it became known over the course of its session held on the 18th of November.
The project demonstrated a high level of sensitivity to state support, which is expected to be insufficient in the year 2017.
Earlier, a director general of Rusagro Maxim Basov told Interfax news agency that by the end of the year the company would make a decision on the project’s future. Rusagro had not entered upon the construction due to uncertainty about the state support, he said.
The company announced the launch of a new undertaking last year and planned to set about building greenhouses this year. The greenhouse’s area was expected to amount to 100 hectares. The project was estimated at 20 – 25 billion rubles.