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MOSCOW, December 16. /TASS/. Russia’s Rusagro and Japan’s Mitsui & Co want to jointly develop business on Russia’s Far East for export of products of the Russian company to Asia, Rusagro said in a press release.
"On December, 16 Ros Agro Plc. and Mitsui & Co. Ltd. signed Memorandum of Understanding that acknowledges mutual intentions to develop new business opportunities in Russian Federation (incl. Far East region) regarding export of Rusagro’s goods and products to Asian and other countries and introduction of advanced technologies and products from Japan and other counties into Rusagro’s 4 business divisions. The parties also agreed on mutual intentions to consider investment opportunities," the statement read.
The document was signed during the visit of President Vladimir Putin to Japan.
Earlier Japan’s Nikkei newspaper reported that Mitsui planes to invest several tens of millions of dollars in the Russian company.
Rusagro group (holding Ros Agro Plc.) combines 6 sugar mills, Ekaterinburg Oil and Fats Factory, oil extraction plant in Samara, 2 agricultural companies with a total land area of 450,000 hectares. The group also develops pig farming in the Belgorod and Tambov regions. In 2014, the company announced entering the Far Eastern region with projects for the production of pork and aquaculture.