July 1, 2009
Iran investors set agricultural sights on Russia
Private investors from Iran plan to set up several enterprises producing and processing agricultural produce in the Chelyabinsk Oblast of Russia.
The projects will cost US$100 million and will be developed on co-financing terms.
The Iranian investors have proposed to build a poultry factory for 500,000 hens, a combined feed plant with an annual capacity of 100,000 to 300,000 tonnes, and a farm for 3,000 heads of cattle.
The co-investors intend to invest up to US$2 million at the project design stage. In the long term, the combined feed production can include grain provision and storage facilities, while the livestock complex will include meat processing production.
The Iranian businessmen will visit Chelyabinsk Oblast this month, and will be shown several plots of land for the production facilities. The land is most likely to be leased on a long-term basis.
By the end of 2009, the Russian party should settle all administrative issues and incorporate a joint venture, while the Iranian party will find equipment suppliers.