Russia, Israeli firm agree to invest $100 mln in Russia’s dairy industry – Reuters

MOSCOW, March 9 Russian Direct Investment Fund (RDIF), Russia's sovereign wealth fund, and the Israeli investment company LR Group have agreed to co-invest $100 million into dairy farming and milk processing in Russia.

The sum represents the first phase of joint investment for which regional projects are already being analysed, a statement from RDIF said.

A global oil slump in recent years, western sanctions and counter sanctions have pushed Moscow to work towards diversifying its resource-based economy.

Russian and Israeli cooperation in agriculture was earmarked as a priority during Israeli Prime Minister Benjamin Netanyahu's visit to Moscow on Thursday.

"Adaptation of the best technologies and creation of vertically integrated regional dairy clusters will significantly increase milk production," Ami Lustig, CEO of LR Group Israel, said in a statement. (Reporting by Dasha Afanasieva; editing by Katya Golubkova)

* Country Garden's Forest City says always planned to sell beyond China and has chosen to bring those plans forward this year

* Edelweiss Financial Services - First Carlyle Venture Mauritius sells entire 8.19 percent stake in co Source text: (http://bit.ly/2ncR8bi) Further company coverage:

* Says it will use undistributed profits to pay a cash dividend of 0.35 yuan(pre-tax)/10 shares to shareholders for FY 2016

See the article here:

Russia, Israeli firm agree to invest $100 mln in Russia's dairy industry - Reuters

Related Post

Comments are closed.