OREANDA-NEWS. May 22, 2013. Russian Agricultural Bank (RusAg) proceeds to financing of an investment project on creation of a modern agribusiness techno park in the Republic of Dagestan. Under the first investment phase the Bank extends RUB 3 billion to the project managed by Dagagrocomplex LLC.

When launched, the complex will engage more than 20 thousand hectares of agricultural lands, numerous production and storage facilities. The park promises to become one of the largest objects of such kind in Russia.

The realization of the project goes in the framework of the State Program on Agribusiness Development 2013-2020 and the State Program on North Caucasian Federal District Development till 2025.

Development of modern crop production based on advanced technologies, equipment and expertise, including those from leading agricultural countries, will eventually fill the market with high-quality Russian-made agricultural products. It will reduce imports and enhance national food security. Creating more than 2000 new jobs, the project will also make a substantial contribution to the regional economy.