The Russian Direct Investment Fund and the Saudi Agricultural and Livestock Investment Company signed an agreement to join forces in the search of investment projects in the Russian agricultural sector
JBA Holdings, a joint venture involving Heilongjiang Agriculture Co. and Joyvio Group, will invest $100 million in a soybean crusher and grain port in Russia, and will lease 100,000 ha to grow wheat, corn and soybeans.
Russia has made 1 million hectares (2.5 million acres) of arable land available to foreign investors. Far East Investment and Export Agency said that several Chinese companies had already expressed an interest in the deal. But analysts are sceptical about the quality of the plots on offer.