H&N signs agreements worth over 5 bln rubles at SPIEF

MOSCOW. June 23 (Interfax) - Health & Nutrition (H&N), the former Russian business of French food multinational Danone, signed agreements worth more than 5 billion rubles at the St. Petersburg International Economic Forum.

"The funds will be channelled into the modernization and expansion of plant facilities, which will make it possible to expand the assortment of products made in Russia's regions," the company said in a press release.

The largest amount, 3.75 billion rubles, will be invested in a project to modernize the Shadrinsky dairy plant in Kurgan Region.

An agreement with Samara Region calls for the construction of a division at the Samaralakto plant to make plant-based products at an anticipated cost of 1 billion rubles.

The remaining funds will be invested in a project to condense whey and robotization at a dairy plant in Chekhov, Moscow Region.

H&N chairman Ruslan Alisultanov said at the forum that the company is working with the industry, the regulator and business associations to build a strong, recognizable image for Russia's dairy industry, the press release said. "And we're already seeing interest on the markets of the CIS, Middle East and China," he said.