Finnish dairy producer Valio is planning to invest $35 million in a dairy plant in the Odintsov district of Moscow region.

The complex to produce, package and store dairy products will have a capacity of 8,000 tonnes a year and should be up and running in 2007, Tigran Karakhanov, Foreign and Economic Relations Minister for the Moscow Region said.

The new plant will create 400 new jobs. Salaries at the plant will reach 25,000 rubles and the plant will pay 110 million rubles a year to the budget.

Valio is not commenting on this information.

Valio was established in 1905. The company first supplied its products to Russia in 1908 and it opened ZAO Valio-St. Petersburg in 1994 in St. Petersburg.

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