Thailand's CP Group to invest $600 million in Russian agriculture in 2015

UFA, July 8. /TASS/. Thailand's largest agribusiness conglomerate, Charoen Pokphand Group (CP), plans to invest $600 million in Russia’s agriculture by the end of the year, the head of the Russian Direct Investment Fund said on Wednesday. "CP Group will invest $600 million in Russia’s agricultural sector and will make another $400 million investment next year," RDIF head Kirill Dmitriev said. "We will develop milk and meat production focusing on export mainly to Asian markets." Three agricultural investment projects are currently under consideration, he said, noting two of them in the Far East and the other one in Central Russia. "In the next five months, we will make an announcement about first investments of this fund," Dmitriev added. In June, the RDIF and CP Group agreed to set up a joint investment fund. Its investments are expected to back long-term projects in Russia in such sectors as agriculture industry, food production and distribution, including dairy, meat, and poultry products. Read more