Russia: Biggest greenhouse complex of Karachay-Cherkessia changes hands

Agricultural holding Step (a part of agroindustrial complex Systems by Vladimir Evtushenkov) have sold the agricultural complex Yuzhniy in Karachay-Cherkessia, with an acreage of over 130 ha, to local businessman Mr. Aslan Karakotov.

The general director of Step, Mr. Andrey Naduzhko, has confirmed leaving the business. He has not named the purchaser nor the transaction amount. Another information source suggested that the facility could have been purchased by republican businesspeople. In fact, the complex was purchased by the Mr. Aslan Karakotov, who has other agricultural facilities in the Stavropol area.

According to Mr. Neduzhko, after Yuzhnij has been sold, Step have concentrated on horticulture, agricultural trading, dairy cattle production; the profit will be allocated to further company development. He added that the company have already acquired three enterprises in the Stavropol area.

The executive director of the National Fruit and Vegetable Union, Mr. Mikhail Glushkov, estimates that Yuzhniy could not cost more than 12.8 million euros. The complex includes older greenhouses with low productivity, which are difficult to manage and have to compete with open field production. According to the expert, the facility requires serious modernization in order to enhance productivity, and it may cost more than the construction of a new greenhouse complex.


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