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Media: Bank stopped issuing loans for Oleg Totsky’s cattle eco-barn

16:32 | 23.02.2015 | Economy

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Penza, 23 February 2015. PenzaNews. The construction of a cattle eco-barn for 1,000 cows in the village of Russkaya Norka of the Shemysheika area was suspended after a bank stopped issuing loans for the Penza region project, says the article titled “Totsky’s Case: The Costs of Justice System” published in the “Ulitsa Moskovskaya” newspaper.

Media: Bank stopped issuing loans for Oleg Totsky’s cattle eco-barn

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According to its author Evgeny Malyshev, the decision is related to the court verdict that sentenced the businessman Oleg Totsky to 2 years in a penal colony for a traffic accident that resulted in death of a motorcycle driver. Oleg Totsky was personally organizing the import replacement project.

“Allegedly, they are fearing misuse of money without the master. However, 80% of equipment has already been bought, and construction is 70% finished,” says the article.

Oleg Totsky is currently serving his sentence in the settlement colony No. 12 in Sosnovka, 25 kilometers away from Penza city, and, based on the words of his relatives, keeps stiff upper lip and is well, says the publication.

The article also notes the official opening of the cattle barn has moves from January 1, 2015, to July.

According to official information published on the website of the Penza region government, the milk cattle complex is being constructed by Oleg Totsky’s peasant farm enterprise in the village of Russkaya Norka of the Shemysheika area. The project is supported by the regional authorities.

Among other things, the enterprise received a 10-million grant in a 2013 competition that was necessary to start the project.

During the visit of the Penza region governor Vasily Bochkarev to the location in October 2014, Oleg Totsky claimed it to be the first such project in Russia, with expected profitability 40% higher than its competitors. The enterprise planned to sell surplus milk outside the region.

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