August 24, 2011


Russia's Pskov to fund US$51.76-million beef project



The government of Pskov Region is to grant RUB1.5 billion (US$51.76 million) in subsidies to private investors, which will impose a beef production project in the region, the regional Vice Governor Sergei Pernikov said Tuesday (Aug 23).


The beef project is expected to be started by the end of 2011, Pernikov said, adding that an unnamed foreign company could take part in the project.


Separately, the regional authorities plan to set up two industrial parks under the project following the creation of a special economic zone in the region, Pernikov also said without specifying investments in the project.


Dmitry Levchenkov, director of the special economic zone and project financing department at the Economic Development Ministry, said earlier in August that the Russian government may create more special economic zones in the Pskov Region in the near future.


In turn, Pernikov said that the regional authorities had already received three bids from the companies seeking to become residents of the zone.

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