Olam International Limited and Russian Dairy Company LCC establish a partnership to develop dairy and grains farming in the Penza region of Russia. Strong long term commitment with potential investment of up to $400 million in phase 1 over the next 4 to 5 years to build a 20,000 milking cow population dairy farm and develop a 106,000 ha grains farming operation. Plans to further double the size of operation in phase 2 over subsequent 3 to 4 years with a target to increase the milking cow population to 50,000 heads producing 500 million litres of raw milk annually and to develop over 130,000 hectares of land under grain farming.