Miratorg plans $500 million investment in poultry production

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.

According to RBC daily, the company plans to invest about $500 million in the construction of its new complex. When successful, Miratorg could become one of the ten largest poultry producers in Russia and will be able to fully meet the demand of Kaliningrad poultry plant, producing semi-finished products.

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.

As part of the poultry project Miratorg plans to establish a grain company, build a feed mill and grain elevator, a platform breeder and an incubator area for growing broiler chickens, and also a plant for slaughtering and processing poultry.