An official time capsule laying ceremony took place at the Lipetsk Industrial Special Economic Zone to mark the start of construction of the Rustark production complex.
The enterprise will specialize in advanced processing of raw wheat to starch products and biopolymers – innovative materials used to make environmentally friendly bioplastics. Common plastics are produced from oil and natural gas and are harmful for the environment, while bioplastics are made from such sources as vegetable fats, oils and starch.
The ceremony was attended by Russian Deputy Minister of Agriculture Oksana Lut, Lipetsk Region Acting Governor Igor Artamonov, and representatives of the Rustark company. The new facilities will be launched in four stages, with the first unit to start operating as early as in 2022. The investments in the project are expected to exceed RUR 14 bln ($ 222.3 mio).
“Processing grains could be a highly prospective business in Russia, given the exceptionally low prices for raw materials”, agricultural and food market expert Natalya Chizh says. “Large wheat volumes are exported as they are not in demand in the Russian market”, she noted.