10 Apr 2024 09:59

Indian co to invest 946 mln rubles to build dairy plant in Udmurtia

IZHEVSK. April 10 (Interfax) - UDM Nestors LLC plans to invest 946 million rubles by 2028 in the construction of a milk processing plant in the Izhevsk special economic zone (SEZ) that is being created in Udmurtia, the regional government said in an order posted on its website.

The draft agreement that is set to be signed with the company states that the investor intends to spend 946 million rubles on the project to build the plant, including 900 million rubles within three years of becoming a resident of the SEZ. The project is expected to be carried out in 2025-2027 and pay for itself in 70 months.

UDM Nestores was founded in Izhevsk last December and its core business is "production of milk (other than raw) and dairy products," according to the Unified State Register of Legal Entities. The company is owned by its director, Indian citizen Jalan Prashant.

The Izhevsk SEZ is being created in the Zavyalovsky district and will have an area of 190 hectares, the Udmurtia Development Corporation said on its website.