MOSCOW TIME: 16.04.2024 22:38:20
Governor Alexey Ostrovsky has signed an agreement with the management of Roslek on investing into flax raising and processing in the Smolensk Region.
Indian investor to develop flax raising in Smolensk Region
Governor Alexey Ostrovsky has signed an agreement with the management of Roslek on investing into flax raising and processing in the Smolensk Region.
The investment project provides for the creation of a flax production and processing facility in the Monastuirshinsky District. According to the Region's Governor, the development of the flax production industry is among top priority activities in the Smolensk Region.
The investment project envisages the annual allocation of up to 1.5 to 2 hectares of agricultural land for flax-raising purposes. To arrange processing, the company intends to purchase and install equipment that will enable the annual production of up to 2,000 tonnes of flax fiber. It is planned that a facility transforming flax fiber into yarn eligible for export operations will be created later on.
It has been reported that the total amount to be invested will be RUB 100 million.
Roslek was founded in 2004 by a group of Indian businessmen. Its core activities include the supplying and maintaining of pharmaceutical equipment and selling of medicines.
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