The principal shareholder of leading Russian banana importer JFC Group is reportedly in talks with a Venezuelan company with a view to creating a joint venture to manage “more than half” of the banana plantations in the country.
According to Russian daily Kommersant, JFC owner Vladimir Kejman is planning to establish a joint company with the Venezuelan Food Corporation (CVAL), following a meeting between Russian president Dmitry Medvedev and Hugo Chavez last October.
The newspaper said that the two countries had agreed to further Russian investments in Venezuela’s banana sector, which could amount to hundreds of millions of dollars.
Mr Kejman and CVAL, it continued, are already believed to have signed a memorandum of understanding that outlines the creation of the new joint entity, which would manage 20,000ha of banana production.
JFC, which already operates banana plantations in Costa Rica and Ecuador, declined to comment on the report.
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