LLC Mir Tsvetov (Mordovia, makes a part of GC Mir Tsvetov) will receive 3.5 million euro as an interest-free loan from the Foundation for the Development of Monotowns of the Russian Federation. The money will be allocated for the reconstruction of the rose nursery in Kadoshkin town. The overall amount of investments will exceed 6.8 million euro.
The agreement on financing was signed by the deputy chairman of VEB.RF, the general manager of Monotowns.RF, Ms. Irina Marieva and the general manager of Mir Tsvetov TK Mr. Aleksandr Boldyrev. The company are planning to double the greenhouse acreage up to 6 ha. Upon the results of 2018, the enterprises within the group of companies have sold about 34 million roses (14% of the Russian market of cut roses). After the completion of the expansion, the production volume should be increased by 7 million pieces.