The agroindustrial complex was constructed under the initiative of Alexander Yakunin, Minister of Agriculture of the Ulyanovsk Region in 2013. The authorities had hoped to use the project to attract 10 billion rubles (about $288 million) to the regional budget.
The complex comprises 4,000 hectares, or 9,884.2 acres, as well as a vegetable storage capacity of 12,000 tons and a ventilation system to maintain desired temperatures.
The first auction was held in February. The minimum price was set at 346 million rubles, but no bids were received.