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THE FUND MONOGORODA.RF WILL FINANCE THE ROSE GREENHOUSE COMPLEX RECONSTRUCTION IN MORDOVIA

The Monotown Development Fund will issue an interest-free loan for the reconstruction of the greenhouse complex for rose cultivation in the monotown of Kadoshkino in Mordovia. The loan will be of 249 million rubles. The agreement was signed between the Deputy Chairman of VEB.RF, General Director of the Fund Irina Makieva and General Director of Mir Tsvetov (World of Flowers) company Alexander Boldyrev.

The Fund will provide means for reconstruction of the greenhouse complex for rose cultivation in the monotown of Kadoshkino, Republic of Mordovia. The company expects to double its greenhouse area from 3 to 6 hectares, which will allow it to grow 7 million more flowers. After implementing the investment project, more than 40 new jobs will be created.

The total cost of the investment project is over 482 million rubles.

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Mir Tsvetov TC Ltd. is part of Mir Tsvetov Group of Companies, which sells its products in over 40 regions of Russia and to the Republic of Belarus. In 2018, the Group of Companies sold about 34 million roses, which makes about 14% of the Russian market of domestic freshly cut roses.