Cherkizovo Group began construction this week of a new poultry plant estimated to cost 19.5 billion rubles ($696 million).
The plant will start operating in 2013 and reach its full capacity by the end of 2015, Cherkizovo said.
Gazprombank provided a 10-year loan that covers 80 percent of the project's cost. The factory is in the town of Yelets in the Lipetsk region. The facility will produce more than 500,000 tons of poultry a year by live weight. That equates to almost 13 percent of Russian poultry output last year, according to the State Statistics Service. Annual production of poultry meat is planned to exceed 200,000 tons.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
