Chinese investors to finance Kirsan Ilyumzhinov's company

On February 9, Deputy Governor of the Rostov Region Viktor Goncharov announced that a Russian-Chinese sugar plant would begin to be built in the Rostov Region in 2021. The construction of a sugar plant with investments of 16 billion roubles will begin by the end of 2021.

Goncharov noted that the project was affected by the coronavirus pandemic, which reduced economic activity, but now the parties are again ready to take on it. The authorities of the Rostov region assisted in obtaining the necessary documents for the construction. Now, a positive conclusion of the state expertise has been received, as well as a building permit.
The operator of the First Don Sugar Plant project is the International Sugar Corporation JSC, headed by first President of Kalmykia, Kirsan Ilyumzhinov. Co-investors are Chinese companies CNMET and China H&P Sugar Industry Partnership, as well as some other Chinese structures, explained Goncharov.
According to him, "the Chinese side has confirmed its participation in the share capital of ISC."

“Now interaction with Chinese partners is in an active phase. Investors set a task to bring the general contractor to the construction site by the end of 2021. The working schedule for the implementation of the project, which has been formed that suggests the possibility of launching the first stage in August 2023, '' said Viktor Goncharov.
The plant's capacity is 180 thousand tons of high quality sugar per year, which will be exported. The plant will process 12 thousand tons of beets per day. The enterprise will be located in the Tsimlyansk region in the village of Tselina. The construction will be carried out by the Chinese company Kharkan Engineering, which is engaged in the construction of nuclear power plants and other complex industrial facilities in 24 countries.
Sugar beets are grown in the Rostov region, but no sugar plant has yet been built. For domestic consumption, products are imported from the Krasnodar region. However, the first sugar plant on the Don is planned to be oriented towards export, including to China. The experts estimated the volume of its production as small. In Russia, sugar consumption reaches 6 million tons per year and exports are 1.5 million tons.