Russia: Rosselkhoz bank funding greenhouse complex in Leninskaya

Open Joint Stock Company, Rosselkhozbank will assign 1.2 billion RUB for construction of a modern energy-saving greenhouse complex for vegetables in Boksitogorsk District of Leninskaya Region. The project is being performed by the company, Agro-Line.

The first stage of construction implies construction of greenhouses, a facility for sprouts and a gas generating power station for supplying energy and heat to the complex. When the complex reaches its full capacity it will be able to provide the population of the Region with more than 6,243 tons of vegetables per year.

Rosselkhozbank is the 2nd bank in Russia with a wide-spread regional network, comprising more than 1,600 departments. The volume of the bank’s net assets as of January 1, 2012 was 1,454 trillion RUB. The net profit of Rosselkhozbank according to international financial reporting standards in 2011 reduced sixfold as compared with the previous year and fell down to the level of 58 million RUB, against 369 million RUB in 2010.

The Agro-Line Group of Companies is one of the leading participants of the meat raw material market in Russia, which is specialized in meat products purchasing and supplying for meat processing plants and wholesale customers in Russia. Starting from 2007 the company has supplied considerable amounts of fresh-frozen meat and other types of products to the Federal Reserve of Russia.


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