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Cherkizovo Has New Venture

Cherkizovo said Saturday that it set up a joint venture with Spain's Grupo Fuertes to produce turkey meat in the Tambov region south of Moscow.

The companies will invest a total of 4.5 billion rubles ($150 million) in the project and aim to produce 25,000 to 30,000 tons of meat a year, potentially rising to 50,000 tons.

Production will start in 2014, Cherkizovo said, adding that the facility is planned to reach target capacity in 2015. Cherkizovo also produces poultry and pork.


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