Fermalux Technology to enter the Moglino Special Economic Zone

The Governor of the Pskov Region Mikhail Vedernikov has held a meeting of the Supervisory Board of the Moglino Special Economic Zone (SEZ). It considered the Fermalux Technology investment project to create an enterprise to produce multi-purpose vitamin-mineral feed supplements and fertilizers.

The Project Development Director Eduard Zabuzov made a presentation via video conferencing and explained that the supplements and fertilizers will be produced from high-moor peat.

He assured that the products will be in great demand among large agricultural enterprises and private gardeners, not only in Russia, but far abroad. “Our fertilizer is concentrated, slow-release and does not contain agrochemicals. Our feed supplement is 100% organic. These are the products that farmers need to produce high-quality food staples,” emphasized the Project Development Director.

The total investment into the project is estimated at about 200 million rubles (almost $ 3 million). Eduard Zabuzov expressed his readiness to complete the construction of the plant and install the equipment within a year, provided the business plan is approved and a resident status is obtained. In this case, the plant will be able to start production in a year.

Upon reaching its design capacity, Fermalux Technology plans to annually produce up to 5 thousand tons of feed supplements and the same amount of fertilizers.

“The peculiarity of our production is that we can quickly switch from one component to another, depending on the needs of customers,” added Eduard Zabuzov.

Following the discussion, the investment project was unanimously approved. Further, company representatives will prepare a business plan that will be submitted for consideration by the Expert Council of the Moglino SEZ. If approved by the Board members, a decision will be made on the possibility of recognizing the investor as a resident.