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Russia: Belaya Dacha raises funds for 7-hectare expansion in Stavropol

VTB Bank has financed the construction of the greenhouse complex Dolina Solntsa in the Stavropol area. The loan will be allocated for the construction of the second phase of the greenhouse complex of 7.2 ha for vegetable and lettuce growth. The project should be completed within one year. The overall amount of investments will comprise 18.7 million euros.

The head of the department for the regional corporate business and a chief vice-president of the VTB bank, Mr. Ruslan Yermenko, underlined that “the bank actively supports the initiatives aimed at the development of Russian production and import replacement stimulation. Our experience with Belaya Dacha, who are carrying over a unique project of this kind, is a perfect example of such a cooperation. I am certain that a new agreement will enhance our business relations.”

Mr. Anton Semenov, general director of Belaya Dacha, commented on the event: “With the launch of the second phase of the complex in 2019 the overall greenhouse acreage in the Stavropol region will reach 15 ha. We are planning to produce 350 tons of lettuce and 3.9 thousand tons of tomatoes a year, which will allow us to reduce the import of similar products in the Russian market considerably. The financing provided by our partner bank VTB will be allocated for those tasks.”

VTB has been cooperating with the Belaya Dacha group for six years. In 2015, the bank provided the enterprise with 12 million euros for the greenhouse complex construction within the program of support for innovative governmental projects. The enterprise was launched in the second quarter of 2017.

For more information:
Belaya Dacha 

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