An industrial zone in Yelets in the Lipetsk region will be set up next year. A project that mooted this concept was declared winner at a contest held by the south Russian region. The zone would be established on an area of 269.7 hectares (666 acres) near the village of Olshanets, where plants to process food and produce and store combined feed, as well as processing facilities will be built. Total investment by zone occupants is expected to reach 12.6 billion rubles ($403 million) in 2010-2017.

State-controlled bank, VTB, has loaned 1 billion rubles ($31.2 million) for a year to the Tula region. The funds would be released within the framework of a program of aid to Russian regions. It will be invested in financing priority spending of the local budget, which is key to maintaining social stability in the central Russian region.

Tambov region has been selected by the industrial group Lakor to build a plant for making biodegradable polymer. Regional officials said the plant would be a part of a project to build a science agricultural techno park.

More details about the project like the amount of investment and the schedule for its completion have not yet been made public. The plant will be located in Michurinsk town and is expected to generate 4,000 local jobs.

Tambov was also in the news after retailer Real-Hypermarket opened its chain store with an investment of $52.6 million. CEO Antonio Baptista said that the Tambov store was the retailer chain’s fourteenth in Russia and second one this year. The first one was opened in Ivanovo. The new hypermarket is spread over an area of 30,276 square-meters. Real-Hypermarket is a Russian division of the Real chain run by Germany’s Metro. Tambov is the administrative centre of Tambovsky region, which is well-known for its agriculture. It is located about 482 km from Moscow.