US agribusiness giant Cargill has started building work at two new plants in Tula, Russia.
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Each plant will cost US$100m to build. The two facilities will be located to the Efremovsky Glucose and Treacly Plant, which Cargill acquired in 1995. Cargill has already invested some $60m in modernising the latter plant.
The two new facilities will focus on the production of starch products and malt. They will need 300,000 tons of wheat and barley each year, according to a press release from Minnetonka-based Cargill. Most of the grains will be bought from producers in the region.
Privately owned Cargill reported it is one of the leading foreign investors in Russia, with investments in agriculture and food processing activities worth more than $150m. Cargill Russia employs 1,020 people, 99% of them Russian nationals.
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