Kursk enterprise Ivolga-Holding invested $600 million in development of regional agricultural sector

Over the years of its activity, the Kursk-based Ivolga-Holding (limited liability partnership) invested $600 million in the development of the regional agricultural sector, as mentioned during the recent working meeting of Alexander Mikhailov, the Governor of Kursk region, with Vasily Rozinov, president of Ivolga-Holding, and Gennady Fomenko, CEO of Ivolga-Center LLC, according to a statement made by the information support management of Kursk region’s Information and Press Committee.

During the meeting, the parties discussed last year’s results of their cooperation in pursuance of the cooperation agreement currently in force, and plans for 2012. In follow-up of the meeting, the parties signed a new protocol to the agreement between the Government of Kursk region and the investment company. This protocol lays out parameters of the parties’ cooperation to develop the agricultural and social sectors in rural districts in 2012.

Ivolga is a long-time business partner of the regional Government, the largest investment company in Kursk region today. The company’s crop acreage was 154.7 thousand ha last year (nearly 10% of the arable land). Grain crops accounted for 102.6 thousand ha, sugar beet for 26.7 thousand ha, sunflower for 7.2 thousand ha, grain maize for 1.6 thousand ha, forage crops for 16.6 thousand ha. The company’s enterprises harvested 325.2 thousand tons of crops (average crop yield being 32 dt/ha), gross sugar beet harvest was 1,067.4 thousand tons (average yield being 399 dt/ha).

The sugar beet plants processed 1,153 thousand tons of sugar beet. It will be noted that Sakharinvest LLC achieved the highest affination output rate in the region, 13.99% against the average rate of 12.63% across the sector. Overall, the company’s enterprises produced 153.3 thousand tons of sugar against 85.6 thousand tons in 2010.

Last year, the company spent RUB 14.4 million for fixed asset renovation purposes at its sugar beet plants.

In 2012, the company intends to increase investments in the development of its enterprises to RUB 7.7 billion particularly focusing on advanced processing of plant products. The company has earmarked RUB 5.2 billion for the production of agricultural goods, RUB 1.25 billion for the sugar industry development. Besides, the company plans to expand the grain crop acreage, to continue introducing intensive technologies to improve the quality and crop yield, to reconstruct cattle-breeding farms, to increase the livestock at its agricultural enterprises.

Today, Ivolga-Holding LLC manages three sugar beet plants in Belovsky, Bolshesoldatsky and Zolotukhinsky districts, three enterprises serving the agricultural production operations including AK Aviakhim LLC in Kursk, four cereal receiving stations, the dairy enterprise Moloko LLC and OJSC Kurskmakaronprom. 15 agricultural associations are engaged in agricultural production activities in 12 districts of the region (Belovsky, Bolshesoldatsky, Zolotukhinsky, Kursky, Kurchatovsky, Lgovsky, Medvensky, Oboyansky, Oktyabrsky, Ponyrovsky, Cheremisinovsky and Shchigrovsky districts).

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