(1888PressRelease)
April 18, 2009 - Grain processor PAVA, one of key emerging holdings who have the lead in consolidating Russian agricultural land consistently lays the groundwork for vertically integrated production. In 2008, the company set up Russian Agricultural Division (RAD) as a full subsidiary, now seeking to raise more capital to finance large-scale development of the project.
Planning to sell up to 40% shares of its daughter multi-farm operator, the company ensures that all targets in land registration process are fulfilled on schedule. “It has been smooth running even considering the state of Russian land market. And in large degree, we owe it to the professional and dedicated management team”, says Galina Balaenkova, PAVA International Business Development and IR Director.
According to company specialists, in end-March RAD has completed preparation of cartographic material for land under control in the Krasnoyarsk Territory. It outlines physical demarcation of boundaries with geographic optimization based on soil quality and infrastructural advantages.
The apportioned land plots will be ready for land survey and cadastral registration – final stages before the property rights are secured. “Similar procedures in the Omsk region have already been successful”, adds Ms Balaenkova. “Meeting the stated goals is essential for the project of such scope”.
As of 1 January 2009, RAD controlled over 160,000 of land and plans to gradually boost this amount, reiterating its commitment to enhance land value and yields with modern farming methods.
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