(Source: http://rusinvestproject.ru/projects)

 Alfa-Bank provided funding for the construction of an import-substituting plant for fresh mushroom cultivation in Kursk Oblast. Loan agreement concluded between Alfa-Bank and “Gribnaya Raduga” LLC is worth about one billion roubles.

The company has already received over 550 million roubles from the Bank which were aimed at the implementation of the first stage of the project, including the construction of mushroom and composting workshops.

The launch of production is scheduled for the second quarter of 2017. Annual production volume at the first stage will amount to 4 thousand tons of mushrooms and 10 thousand tons of compost.

During the process of project development the production volume should grow to 12 thousand tons of mushrooms annually. It is planned to achieve these figures in 2019. The total investment in the project at that point will have reached 3.6 billion roubles.

According to the principal owner of the company Aleksandr Udodov, the fresh mushrooms market size in Russia amounted to about 50 thousand tons a year in 2016, 80 percent of all mushrooms were imported. According to the calculations of “Gribnaya Raduga” LLC, the project will make it possible to take about 16.5 percent of the market, and the share of imported products will decrease down to 50 percent.