Asian businesses investing about €3.5bn in milk and dairy production in Russia
Russia banned many Western food imports, including dairy, in 2014 in retaliation for sanctions over Ukraine, creating supply shortfalls and spurring investments in its agricultural sector.
Vietnamese dairy firm TH Group has begun building milk farms near Moscow as part of a €2.5bn 10-year project.
Stage one, costing €450m, will lead to the production of 800 tonnes a day of milk and other products, which are due to reach the Russian market in 2017.
The output projections were stated by TH Group chairman Thai Huong at a ceremony marking the start of construction.
