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16/09/2009 03:37:15
PAVA plans a trip to Middle East to update investors on the new business projections
PAVA, one of the leaders of Russian agro-processing sector, plans to enter into strategic alliances with investors from the MENA region. The company said it has scheduled a trip to KSA and UAE for the beginning of October to conduct a series of meetings with strategic and financial partners.
They will be updated on the company progress with the new projects in farming and deep processing. Looking to finance further transition to a vertically integrated agribusiness, PAVA is now offering a stake in the company’s agricultural operations.
Galina Balaenkova, Head of IR and International Business Development Department, has commented: "Gulf investors continue to take keen interest in agricultural investment overseas, which falls in line with the government course. It is a vital issue due to scarcity of own resources, while growing world population is driving grains demand and food prices are hitting new highs. On that score, there are strong mutual advantages for the proposed partnership".
As 2009 harvest is nearing completion, Russian Agricultural Division (the name of PAVA farming subsidiary) appears to have made a successful start. The company enlarged the cultivated acreage and boosted crop yields.
"Fulfillment of the stated goals is an encouraging sign, and additional investment, both strategic and financial, is expected to forward our development. We believe that the transaction is set to succeed, aided by the conditions of land market in Russia, state policy and the country’s immense agricultural potential. PAVA, on its part, brings unique strengths to the project with the solid industry experience, qualified team and views to expand land bank from 160,000 to minimum 500,000 ha", Galina Balaenkova said.
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They will be updated on the company progress with the new projects in farming and deep processing. Looking to finance further transition to a vertically integrated agribusiness, PAVA is now offering a stake in the company’s agricultural operations.
Galina Balaenkova, Head of IR and International Business Development Department, has commented: "Gulf investors continue to take keen interest in agricultural investment overseas, which falls in line with the government course. It is a vital issue due to scarcity of own resources, while growing world population is driving grains demand and food prices are hitting new highs. On that score, there are strong mutual advantages for the proposed partnership".
As 2009 harvest is nearing completion, Russian Agricultural Division (the name of PAVA farming subsidiary) appears to have made a successful start. The company enlarged the cultivated acreage and boosted crop yields.
"Fulfillment of the stated goals is an encouraging sign, and additional investment, both strategic and financial, is expected to forward our development. We believe that the transaction is set to succeed, aided by the conditions of land market in Russia, state policy and the country’s immense agricultural potential. PAVA, on its part, brings unique strengths to the project with the solid industry experience, qualified team and views to expand land bank from 160,000 to minimum 500,000 ha", Galina Balaenkova said.
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