Raiffeisenbank and McCain Foods Rus LLC, a subsidiary of the world's largest producer of French fries McCain Foods Limited Group, entered into a loan agreement in the amount of 9 billion rubles. The bank will give the company a loan for 8 years under the concessional lending program of the Ministry of Agriculture of Russia (under the PPRF No. 1528). The loan will be used to build a new plant.
Group McCain Foods Limited has been selling its products in Russia and the CIS countries for over 20 years. In 2020, the company decided to establish a subsidiary, McCain Foods Rus LLC, in order to open a plant in the Tula region in connection with the growing demand for products McCain in Russia and the CIS. The start of production is scheduled for 2023.
“The plant in the Tula region will become the first production site of the company McCain in Russia. In addition to financing the construction of the plant, Raiffeisenbank will serve the transactional business McCain in Russia. We are grateful to the company for its trust and will provide it with a first-class quality of banking services. It is especially valuable for us to support the largest international players making direct foreign investments in the Russian economy. This transaction confirms Raiffeisenbank's leadership in the Russian and European markets. We believe that Raiffeisenbank is the bank of first choice for international companies operating in Russia, ”said Maria Mayevskaya, Head of International Companies at Raiffeisenbank.
“The construction of the plant is a big milestone in the development of our business in Russia and the CIS. The enterprise will meet the most modern requirements for technologies, its opening will allow us to create new jobs in the Tula region, expand cooperation with Russian agricultural companies and better meet customer needs. We are committed to a long-term and successful business in Russia and are grateful to Raiffeisenbank for its comprehensive support, ”said Alexander Petrov, Group Managing Director McCain in Russia.
McCain Foods Limited is an international frozen food company founded in 1957 in Florenceville, Canada. It is now the world's largest producer of French fries and other frozen potato products.