Central regions | Farming, agriculture | Finance, business
Sberbank to boost innovation in Kaluga’s agriculture
31 Oct '13
Sberinvest, an investment arm of Sberbank, Russia’s largest savings bank, has unveiled plans to assist the Kaluga region in Central Russia in developing its innovation bioindustry segment in agriculture. An agreement has been reached between the company and the region’s agricultural authorities, Sberinvest announced.
One of the focal areas for cooperation will be joint implementation of a project aimed at growing and processing special crops that provide raw material for vegetable oil, biofuel, and glycerin-containing products.
The agreement also calls for the construction of module units to produce vegetable oil and oil-based biofuels. Another focus is the development of technology to use the raw material to make glycerin-containing products.
To facilitate the effort, the partners are expected to set up an innovation center-biotechnopark developing agricultural biofuel technologies. Sector-focused government research institutes and Russian and international financial institutions will be helping the project, too, Sberinvest said.