Thai firm to build Russia’s largest dairy plant
Thailand’s largest agribusiness conglomerate Charoen Pokphand Group will invest $1bn to build the largest dairy complex in Russia together with investors from China, Russia and the Middle East.
The complex will produce 400,000 tons of dairy products – such as pasteurised milk, cheese and sour-milk products – per year. It will be located in the Ryazan region, southeast of Moscow.
Investors include Charoen Pokphand Group, China’s Banner Infant Dairy Products and the Russian Direct Investment Fund.
The deal was prior to a summit between Russia and leaders of members of the Association of Southeast Asia Nations which kicks off tomorrow.
Russia has banned dairy product imports from Western countries in retaliation over sanctions that were imposed against the country over its role in the Ukraine crisis. The new plant is expected to boost supply for the country’s huge dairy market.