Barnaul, Russian Federation (PressExposure) March 24, 2009 -- Grainvest, PAVA grain fractionation plant retains its strong positions among the prioritized national projects, singled out for financial support from the government.
To recap, in 2007, PAVA reported a new milestone in its business strategy - construction of advanced processing plant on the basis of one of the company's flour mills located in the Rebrikha district. Recognizing the huge innovation factor for Russian agriculture, federal authorities called it "a breakthrough of the national economy".
Now, the project estimated at approximately 200 mln. euro, has been presented to Russian Ministry of Regional Development as a prospective candidate for budget allocations from the state investment fund. Other Altay applicants for review of the committee included advanced cement-producing plant, poultry and pig-breeding complexes and site development project, the total cost of all standing at approximately RUR50 bn.
Grainvest is aimed on the output of high-margin ingredients extracted from wheat kernel such as gluten, starches, alcohols, high-protein animal feed, wheat germ oil and carbon dioxide. PAVA has repeatedly stated its commitment to accelerating the world supplies of high-quality foodstuffs and feed.
The project is already given significant support on the local level. As was announced earlier, PAVA has signed a cooperation agreement with the Administration of the Altay Territory, who undertakes to promote the company's industrial potential granting tax remissions, provision of gas and power supplies and help in allocation of agricultural lands among other issues.