VEB.RF Bank will provide a loan of 1 billion rubles ($10.6 million) to Sviyazhsk-Zernoprodukt located in Tatarstan Republic to finance the construction of a state of the art elevator for storage and handling of grain and oilseeds.
According to the bank, the project will attract some 3 billion rubles ($31.7 million) of investment and create more than 80 new jobs.
Sviyazhsk-Zernoprodukt will offer a range of services including storage, cleaning, drying, handling and loading of agricultural products.
The project storage capacity of the elevator is 112.5 thousand tons of grain at a time, annually the facility is expected to store and handle some 450 thousand tons.
The elevator is planned to be put into operation in 2024. The facility will be located on the territory of the Sviyazhsk Logistics Center and will be able to accept and load products into trucks, railcars and onto river barges.
The major share of the products is expected to be exported to Iran, Syria, Africa, Azerbaijan and the Middle East.
Photo: open source