Tuesday 06 June 2023


VTB provides approx. RUR 1 billion for construction of fruit storage facility in Dagestan

30 March 2023 18:46 Posted in:  BUSINESS
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VTB has issued a RUR 1.1 billion loan to Polosa (part of Rychal-Su) company for the construction of a fruit storage facility. The funds are granted for seven years under the preferential program №1528 of the Ministry of Agriculture of Russia.  

The company will use the funds to construct a new fruit storage facility with regulated gas environment for long-term storage of apples in Suleiman-Stalsky municipal district of Dagestan. The capacity of the site, which is planned to be launched in the second half of 2024, makes 11.5 thousand tons of products.  

The implementation of the project is designed till 2030. The fruit storage will allow to load up to 50 thousand tons, the area of the object will reach 50 thousand square meters. Investments will amount to approx. 5.2 billion rubles. The enterprise at its full capacity will employ 3 thousand people.  

"We have been working with "Rychal-Su" company for several years already. The company's business is growing dynamically thanks to the highly professional team of the holding, which competently calculates the trajectory of its development and takes into account all the factors and risks existing today. The company's strategy is based on an integrated approach - laying new large-scale orchards, the group's management creates all the necessary infrastructure at the same time. We fully share this tactic and are ready to fully support the initiatives of the enterprise" - Alexander Dyrenko, the VTB manager across the North Caucasian Federal District comments.

"Due to the lack of our own fruit storage facility, we face problems in selling the harvest. The new platform with modern equipment will allow to store apples noy losing their marketable appearance and consumer characteristics for 8-10 months, which means that we will be able to supply fruit with excellent taste and organoleptic properties to the buyers all the year round", - Omar Abdulmutalibov, the director general of "Polosa" LLC says.    

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