Investment of 145 million euro in 2nd production line in Lipetsk Thursday 03 June 2021
LWM RUS, the leading producer of frozen potato products in Russia, has signed an investment agreement with the governor of the Lipetsk region Igor Artamonov, to more than double the production capacity of its existing plant in the Special Economic Zone of Lipetsk.
The investment amount will be more than 13 Billion rubles (145 million euro) and generate 250 additional jobs in the region. “This is great news for the Lipetsk region as it will create jobs and support the development of local farmers and the entire community”, Igor Artamonov commented.
The new line will be primarily focused to serve the growing Russian and CIS markets. All potatoes will be sourced from local farmers with full agronomic support from the company. Marc Schroeder, CEO of Lamb Weston Meijer, which is the majority shareholder of LWM RUS, said: “The french-fry market is growing globally and Russia is a very important market for us. This investment of in-country production shows our commitment to our strategic customers and supporting their growth plans in the future”.
The construction of the plant will start within a few weeks and is expected to be operational early 2023.