Rusmolco investing 2.5 billion rubles in the expansion
Russian Dairy Company (a subsidiary of Olam International Limited, Singapore) has announced that it will invest 2.5 billion rubles in dairy farming in the period up to 2022. As part of the investment, the company will expand the dairy complex in Serdobsk from 5,200 to 7,200 milking cows.
The financial partner is JSC Rosselkhozbank. Work on the project is planned to be completed by the end of this year, the complex will reach its design capacity in 2022.
The new investment program will increase the milk yield at the complex to 250 tons per day or up to 90 thousand tons per year, and the total number of cattle will grow to 16 thousand head, stressed in the company.
‘Rusmolco continues to move forward firmly and implements all the planned investment plans. Of course, we have recently faced some obstacles due to COVID and global macroeconomic factors, but I am pleased to note that our plans have remained unchanged. The Serdobsk farm project is a successful example of sustainable large-scale production of high-quality milk at very competitive prices. I would also like to sincerely thank our partners – Rosselkhozbank and the Government of Penza region for their support in the implementation of this ambitious project, which is the pride of Penza region and the Russian dairy industry,’ said Sumanta Kumar De, CEO of Rusmolco.
It is worth reminding that Rusmolco put into operation a complex for 5200 milking cows at the end of last year. The project was implemented in two stages in partnership with Rosselkhozbank, the investment in the project amounted to 4.5 billion rubles. Now the farm produces about 180 tons of milk per day, the total livestock is 11,400 animals.
According to the Dairy Intelligence Agency (DIA), for 11 months of 2020, the total number of cattle on the farms of the holding reached 30,750 animals, including 14025 cows.