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On May 18, 2016 the agreement between the Government of the Ryazan region, Russian Direct Investment Fund and Charoen Pokphand Group (Kingdom of Thailand) on the construction of a full-cycle dairy complex in the Ryazan region was signed during Russian-Thai Business Dialogue forum in Saint-Petersburg. The document was signed by Governor of the Ryazan region Oleg Kovalev, Executive Vice Chairman of Charoen Pokphand Group Soopakij Chearavanont and CEO of Russian Direct Investment Fund Kirill Dmitriev in the presence of Chairman of the Government of the Russian Federation Dmitry Medvedev and Prime Minister of Thailand Prayuth Chan-o-cha. The project cost approximately reaches $ 1 billion. The area of the complex will occupy about 1 thousand hectares, cultivation of agricultural crops will occupy from 40 to 60 thousand hectares. The number of dairy herd is planned to reach 80 thousand heads. Governor Oleg Kovalev emphasized the special significance of the project. Its implementation will allow to provide not only Ryazan region, but other regions with milk. To date, such wide-ranging projects and high-level technologies don’t exist in Russia.