Miratorg plans $500 million investment in poultry production this year

Miratorg plans $500 million investment in poultry production this year

Agro-industrial holding Miratorg, one of the largest producers of pork, and owner of a large-scale project for beef production in Russia has decided to organise its own poultry project in the Bryansk region.

In May this year Miratorg launched construction of the poultry complex in the Bryansk region, the Company’s President Viktor Linnik told RBC daily. First products should appear in June 2013, and within a year after the release of the first products the complex will reach full production capacity.

The project cost is estimated at 15 billion rubles (about US$500 mln), out of which 12.5 billion rubles (US$ 416 mln.) is a credit amount. According to Linnik, an agreement on financing has already been reached and the company has already passed the credit committee at a bank, whose name will not be disclosed before signing the agreement

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