Site of closed Baikalsk Pulp and Paper Mill in Baikal, Russia, to become agriculture cluster, with greenhouses and processing facilities, says region's governor; deal is reached with Russia's VEB financial institution

Debra Garcia

IRKUTSK, Russia , June 6, 2014 (Interfax) – An agriculture cluster will be set up in the town of Baikal, Irkutsk region, where the Baikal Pulp and Paper Mill closed last fall, Sergei Yeroschenko, the regional governor, said at a press conference, held as part of the Baikal Press-2014 festival, Friday.

"We have reached a deal with VEB about setting up an agriculture cluster," he said.

The cluster will include greenhouses and processing facilities.

"VEB will support the project with investment," he said.

Baikal Pulp and Paper Mill closed down in September 2013.

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Industry Intelligence Inc. editor's note: Vnesheconombank (VEB), also called the Bank for Development, operates to diversify the Russian economy, boost its competitive edge and encourage investment activity. according to VEB's website. The bank is responsible for providing investment, foreign economic, insurance and consultative support for projects in Russia and abroad aimed at developing infrastructure, innovations, special economic zones, environment protection, providing support for exports of Russian products, works and services, as well as supporting small- and medium-sized enterprises.

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