OREANDA-NEWS. June 27, 2013. In the course of the St. Petersburg International Economic Forum — 2013 Russian Agricultural Bank (RusAg) and Kaluga region have signed a memorandum on foundation of "K-Agro" agro-industrial park.

The document was signed by Dmitry Patrushev, Chairman of the Board and CEO of Russian Agricultural Bank, Anatoly Artamonov, Governor of Kaluga region and Nikolay Milkis, Acting Director of Kaluga Region Development Corporation (OJSC). It stipulates the formation of a large world-class agro-industrial cluster which will cover the whole production chain: storage, transportation and marketing. Being situated on the boarder of Moscow metropolitan area, the cluster will resolve an existing shortage of infrastructural facilities and grant local producers an access to the market.

Investments required for the project realization are estimated at several tens of billion rubles and will be shared by a pool of investors. Spadework is to be finished in 2013 and the implementation phase will be proceeded by the end of the year.

"Being a leading financial partner of the national agribusiness, RusAg considers the decision to participate in foundation of agro-industrial park “K-Agro” to be strategically important. I firmly believe that the implementation of the project will become a further step to achieve the goals set by the President to ensure Russia`s food security and transform the country into a major foodstuff supplier in the world", noted Dmitry Patrushev.