A working meeting of Governor Alexey Ostrovskiy with Mikhail Panchenkov, Director General of Invest Finance, OOO (Limited Liability Company).

Governor Alexei Ostrovskiy held a working meeting with Mikhail Panchenkov, General Director of Invest Finance OOO (Limited Liability Company), during which the parties discussed ongoing investment projects in Smolensk region, as well as plans for further development the Company, involving development of production sites in the region.

It should be said that Invest Finance, OOO (Limited Liability Company), is the shareholder of Joint Venture Shuyskoye, AO (Joint Stock Company), in Vyazma district and Baltutino, OOO (Limited Liability Company) in Glinka district. The Company is also carrying out another investment project at Gagarinkonservmoloko, ZAO (Closed Joint Stock Company), on the territory of the region, involving the expansion and modernization of the plant’s production capacities.

At the beginning of the meeting, the investor, on behalf of the Company, thanked Governor Alexey Ostrovskiy for the constructive cooperation. In his turn, the Head of the region said: “Thank you, Mikhail Viktorovich, for these kind words. The work that you do, of course, benefits the region. I mean new jobs for Smolensk region residents, new production sites, taxes coming into the regional budget. Therefore, we will help the Company under your management in the future.”

It should be reminded that in February last year at the Russian Investment Forum in Sochi, Governor Alexey Ostrovskiy signed an agreement on cooperation in the field of agriculture with the management of Invest Finance, OOO (Limited Liability Company). While developing the project, the investor, having received support from the Administration of the region, went for even more ambitious plans and doubled the production capacity. “... We are talking about the construction of a modern complex for 1,200 heads of dairy cattle at the operating enterprise. At the moment, we have 1,340 milk cows, so we expect the capacity to double,” said Mikhail Panchenko. He added that the investment project for the construction of a dairy complex for 3 thousand heads of cattle, including 1,200 heads of fodder cows, will be carried out in 2020-2021 at Baltutino, OOO (Limited Liability Company), in Glinka district. The volume of the planned investments will amount to at least 950 million rubles and will exceed the previously planned ones more than twice. At present, design and estimate documentation is being developed for the construction of a dairy complex.

As for the further development of Gagarinkonservmoloko, according to the investor, the project for whey processing and modernization of the Company has been completed so far. In the near future, construction of a new plant for the production of dry dairy products is going to begin.

Taking into account the importance of the issue, Governor Alexey Ostrovskiy instructed his deputy Rostislav Rovbel to prepare corresponding enquiries to Alexei Gordeyev, Deputy Prime Minister of the Russian Government and Dmitry Patrushev, Minister of Agriculture. The Head of the region also expressed his readiness to assist in arranging and holding negotiations with manufacturers of baby food.

During the meeting, Director General of Invest Finance, OOO (Limited Liability Company), emphasized that the implementation of the investment projects at the Company's sites in Boltutino and Gagarin will allow to attract a total of about 1.5 billion rubles to the Smolensk region economy.

Then, Alexey Ostrovskiy and Mikhail Panchenkov signed an Agreement of Intentions between the Smolensk Region Administration and Baltutino, OOO (Limited Liability Company), on cooperation in implementing a project for construction of a dairy complex. “Mikhail Viktorovich, thank you very much for investing money in the economy of the region. We will certainly provide all necessary assistance in the implementation of the project,” the Governor summed up the meeting.