Development of intensive crop cultivation in Stavropol Region (Irrico)

 

 

Name Development of intensive crop cultivation in Stavropol Region (IrriCo)
Region
The Stavropol Territory
Initiator
VTB Capital, other business investors
Total capital investments
USD 267 mn
NCDC equity contribution
USD 25 mn
New jobs created
650 direct and 1300 in related businesses
Annual taxes
RUB 280 mn

 

Development of one of the largest agricultural companies in Russia carrying out intensive crop cultivation with the use of irrigation systems.
 
The project envisages the irrigated production of corn, soybeans and potatoes on an area of 40, 000 ha, as well as non-irrigated wheat, canola and sunflower production.
 
24,500 of the 40,000 ha are planned to be equipped with modern center-pivot irrigation systems with the use of the existing irrigation canals. The project also includes the construction of an elevator and a potato storehouse.
 
All members of the senior management team have extensive experience in large-scale farming and agribusiness both in Russia and internationally. The project is being developed in partnership with VTB Capital and creates a precedent for international investments in projects in the North Caucasus Federal District.