Prodo invests $66 mln in poultry farm expansion

Management of the Russian Group of Companies Prodo, one of the largest poultry producers in Russia, is planning to invest 2 billion rubles ($66 mln) in the expansion of the production cycle of its poultry complex Permskay, located in the Perm Region.

According to Prodo general director, Sergei Poliakov, last year, Permskay produced 29 thousand tonnes of poultry and poultry products, worth over 2 billion rubles in total. “The new investment project will lead to an increase in production capacity of almost double. During the period 2012 to 2014 an incubator with output of about 33 million eggs per year will be constructed. In three years we can produce about 48-50 tonnes of products with a total value of more than 4 billion rubles ($ 132 mln),” said Poliakov at a press conference.

Permskay is currently the largest poultry complex of Prodo Group of Companies. Since 2010, the complex has received governmental support. In the first half of 2011 regional and federal budgets compensated the costs of paying interest on the investment bank loans amounting to 1.2 million rubles ($40,000). During 2011 the complex plans to produce 34.8 thousand tonnes of broiler meat, representing almost 52% of the total demand of the Perm Region.