Holding news

The President of ECO-Culture gives a speech at the conference dedicated to Rossekhozbank’s 19th anniversary

On September 19, a conference dedicated to the anniversary of Rosselkhozbank, the holding’s permanent financial partner, took place in Stavropol Krai. The event was entitled “19 years of partnership, development, and innovation”.

Alexander Rudakov, the head of the agricultural holding company, made a report on the prospects of greenhouse business on the example of the achievements and further plans of the “ECO-Culture” company. He outlined the most important market trends in this area and emphasized that over the past decade, the sector has received a powerful incentive to develop, in particular, due to the state import substitution policy. The government support allowed the holding to implement the most ambitious plans and forecast the financial results more clearly.

Rudakov also noted the most favorable conditions for the business he discovered about Stavropol Krai. All the stars have truly aligned here – the investment policy of the federal authorities has strengthened the impact of a favorable territorial location, and the credit support of Rosselkhozbank has contributed to the construction and launch of large-scale projects in an accelerated mode. At the same time, the regional authorities provided the company with invaluable assistance in resolving organizational issues. The President of the holding also said that this is the ideal synergy effect of the interaction between private business and the state. The local regional authorities have been engaged in active dialogue with private entrepreneurs and support them publicly.

The majority of ECO-Culture greenhouses are located in the Stavropol Krai – 4 modern complexes employing about 2,000 people. 90 percent of the premises would not be implemented without the financial support of Rosselkhozbank. Right now, a few other general investment projects are in progress.

A good example of successful cooperation is the Solnechnyi Dar greenhouse complex built in Solnechnodolsk, the Izobilnensky district. The total cost of this project amounts to 33 billion rubles, 80 percent of which were Rosselkhozbank sponsorship. The first stage of the construction has already been completed – greenhouses are operating and yielding. Full production capacity (120 hectares) is expected to be achieved by the end of 2021. By now, this is the largest greenhouse project in the country.

Another initiative supported by the bank is the Kavkaz greenhouse complex with a total area of 87 ha. The project’s investment budget was 16 billion rubles, with a prime location in Mineralnye Vody district. The complex will be export-oriented. The commissioning of the first stage is scheduled for October 21 years.

In his speech, the head of the agricultural holding company touched upon the most important issue for all the producers of the market – the one regarding state support, as well as banking organizations’ sponsorships. More and more banks are willing to provide loans for the construction of greenhouses at subsidized rates – down to 5% per annum. However, according to A. Rudakov, further progressive development in this area would require extending the crediting period up to 12 years.