ОЗК в июле определится с параметрами проектов по глубокой переработке зерна
In an interview with the Prime agency in the corridors at SPIEF, Ziyavudin Magomedov, the chairman of the board of directors of Summa Group, which owns 50% minus one share of United Grain Company (UGC), stated that UGC is planning to pursue a number of projects associated with the advanced processing of grain, which will be considered at a meeting of the board of directors at the end of July this year.
"We intend to adjust our strategy and significantly increase the reprocessing of grain in Russia. Somewhat later, we will announce projects to reprocess grain into glucose, vegetable fibrin, and gluten," he said, adding that the geographical locations of those projects are currently being determined. According to Magomedov, the parameters of the projects, including their financial component, will be examined and formulated at a meeting of UGC’s board of directors at the end of July. He noted that there are good prospects for the reprocessing of grain in Russia. However, a number of problems also exist, in particular the lack of long-term financing for the industry and the technology. "There is support from the state and the institutions of Vnesheconombank and Russian Agricultural Bank exist, but there is a problem with the cost of financing. I see it as being quite high, in view of the fact that, for all its appeal, the sector is not sufficiently developed here and there are no well-established owners," claims Magomedov.
Among UGC's assets are portfolios of shares in 31 companies located in 18 regions of Russia. The company is a state agent that intervenes in the grain market of the Russian Federation, a major exporter of grain. UGC's revenues increased 12% in 2012, to 30.39 billion rubles. In 2012, Summa Group acquired a 50% stake, minus one share, in UGC.
"We intend to adjust our strategy and significantly increase the reprocessing of grain in Russia. Somewhat later, we will announce projects to reprocess grain into glucose, vegetable fibrin, and gluten," he said, adding that the geographical locations of those projects are currently being determined. According to Magomedov, the parameters of the projects, including their financial component, will be examined and formulated at a meeting of UGC’s board of directors at the end of July. He noted that there are good prospects for the reprocessing of grain in Russia. However, a number of problems also exist, in particular the lack of long-term financing for the industry and the technology. "There is support from the state and the institutions of Vnesheconombank and Russian Agricultural Bank exist, but there is a problem with the cost of financing. I see it as being quite high, in view of the fact that, for all its appeal, the sector is not sufficiently developed here and there are no well-established owners," claims Magomedov.
Among UGC's assets are portfolios of shares in 31 companies located in 18 regions of Russia. The company is a state agent that intervenes in the grain market of the Russian Federation, a major exporter of grain. UGC's revenues increased 12% in 2012, to 30.39 billion rubles. In 2012, Summa Group acquired a 50% stake, minus one share, in UGC.