Nordic Business Report-June 7, 2006-Raisio Group Plc to build oatmeal plant in Russia
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Finnish industrial group Raisio Group Plc said on Wednesday (7 June) that it has decided to expand its food production in the fast growing markets of Russia.
For this purpose Raisio has agreed to establish a joint venture with OOO UK Zolotoi Kolos, part of the Tatfond Bank group. Raisio would own 75% of the joint venture, the company said.
The joint venture would build an oatmeal plant in Burunduki, Tatarstan, an area where major grain-based production of Zolotoi Kolos is currently located.
The total oatmeal plant investment is estimated at some EUR15m with the completion during 2007.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
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