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Don Agro set to invest S$1.9m to expand storage capacity

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RUSSIAN agri and dairy firm Don Agro International on Thursday said the group is set to invest some S$1.9 million to expand its storage capacity in a bid to improve yields and enhance profitability. Read more at The Business Times.

In tandem with its growth plans, the group has also invested S$0.4 million in new machinery to save on costs and reduce the reliance on labour, it said.Looking ahead, the group plans to scale its business through the expansion of its arable land bank. Don Agro is also exploring opportunities in mergers and acquisitions, joint ventures and strategic alliances with both domestic and foreign companies, it said.

Evgeny Tugolukov, executive chairman of Don Agro said:"Fresh off our initial public offering in February 2020, we have begun to execute the various strategies for growth to strengthen our position as one of the largest agricultural companies in the Rostov region of Russia. "This additional capital expenditure on new machinery and the expansion of our facilities will allow us to improve yields within our crop business and enhance our operational efficiency."For daily updates on weekdays and specially selected content for the weekend. Subscribe to

 

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