ROS AGRO PLC (LSE: AGRO) announces the decision to launch 3 pig-breeding complexes in Tambov region and cease greenhouse project21.11.16
On November, 18, 2016 the Board of Directors has made decision to cease greenhouse project, announced in March. Project showed high sensitivity level to the government support, which the Board expects to be insufficient in coming years to guarantee reasonable pay-back period.
Meanwhile, the Board of Directors has approved the construction of 3 pig-breeding complexes in Tambov region with production capacity of 40-45 thousands tonnes in live weight. Total investments in the project estimated at 7.5 billion rubles. The project has already been approved by the Commission of Ministry of Agriculture.