Razgulay Group will invest about 1 billion rubles ($31.25 million) in 2012, the company's chief financial officer Yelena Lazarenko said on the sidelines of the Russia's Agro-Holdings conference, Interfax reported Friday.
"Investments will go to repair sugar plants and upgrade agricultural equipment," she said. The company does not plan to expand its land bank, which currently comes to 420,000 hectares.
Razgulay's investments in 2011 came to about 3 billion rubles. Razgulay's consolidated sales revenue for 2011 has still not been released but, according to Lazarenko, the figure will be less than in 2010. The group's sales revenue in 2010 came to 25.9 billion rubles.