15 Nov 2022 13:35

Tatarstan's Agrosila pushes some projects to 2023, maintains medium-term targets

KAZAN. Nov 15 (Interfax) - Agrosila, an agribusiness group based in Tatarstan, is generally sticking to its development strategy for the period to 2030 despite the difficult situation in the sector, CEO Svetlana Barsukova said in an interview with Interfax.

"The situation is extraordinary this year. Therefore, we decided to postpone the implementation of a number of projects until 2023, but in general we are keeping to the strategy for the holding's development that was approved to 2030," Barsukov said.

Agrosila has carried out the largest projects that were planned for 2022 and completed more than 80% of its investment program, investing 4 billion rubles out of the 5 billion rubles planned for the year, she said.

These projects included completing construction of a cheese production facility, the launch of the second phase of the Aznakai dairy product complex, the modernization of a gas lime kiln at the Zainsky sugar mill and the first stage of the construction of treatment facilities at the Chelny Broiler poultry plant.

The group has primarily put off plans to acquire imported farm machinery until next year.

"Since currency exchange rates changed dramatically, we could not plan some acquisitions even in the short term. Therefore, we have put off these projects and intend to implement them with some adjustments in 2023," Barsukova said.

Agrosila is planning to invest 5.6 billion rubles in 2023, half of which will go into developing the group's crop farming and livestock farming business, she said.

Agrosila is a diversified, vertically integrated agribusiness group and one of Russia's largest. The group operates in four main areas: meat, sugar, dairy and crop farming.