Russia invests in poultry producers

Rosselkhozbank, the Russian Agricultural Bank, has sanctioned over 7.4 billion rubles (US$244mln) to help in the establishment of a modern breeding centre for Akashevskaya Poultry, one of the largest poultry producers in the Volga Federal District.

This is the eighth stage of the investment project for the agricultural bank and the agricultural company. The project will enable the company to provide a breeding base and a high quality hatchery. When this stage of the project is completed the company will have a production capacity of 158 million hatching eggs a year.

The project plans to build production facilities in Sernurskiy, Sovietsky, Morkinsky, Novotoryalsky creating over a thousand new jobs in the Republic of Mari El. It will also contribute to the comprehensive development of rural infrastructure in the region. The construction of the poultry farm is planned to be completed in 2014.

Through the creation of its own hatchery, the integrated agricultural holding will be able to reach the planned production capacity of 200,000 tons of chickens a year within the year and become the largest poultry producer in the Volga Federal District, according to the representatives of Akashevskaya Poultry Farm.