Steppe Agroholding sold its greenhouse capacities
22 May 2020
Steppe Agroholding, a Russia-based crop producer, sold its subsidiary Yuzhnyi, a greenhouse complex in Karachay-Cherkessia. The enterprise was acquired by a businessman reportedly engaged in agricultural production in the Stavropol region. The worth of the deal has not been disclosed. The facility operating 144 hectares is one of the largest greenhouses in Russia. However, its annual production volumes are 45,000 tonnes of vegetables, which is lower than the average figures on the market.
In the mid-term perspective, Steppe plans to focus on crop and dairy production, as well as grain trading. Funds from the greenhouse sale will be used for further increase of the company’s farmland area.