January 19, 2011

Russian firms to invest US$507.07 million in poultry projects

Five Russian agricultural companies are expected to join in a project to build and reconstruct RUB15.159-billion (US$507.07-million) poultry farms in the Chelyabinsk Region, Agriculture Minister Ivan Fyoklin said Tuesday (Jan 18).

The regional government has provided RUB5.5 billion (US$183.98 million) of loan guarantees for these companies, Fyoklin said.

In particular, Uralbroiler and Ural Meat Company are expected to build a RUB5.7-billion (US$190.67 million) poultry farm in the region's Kunashaksky District. Of the total, RUB4 billion (US$133.80 million) are to be borrowed.

Sitno and the Nagaibak Poultry Complex are expected to build a RUB4.2-billion (US$140.49 million) poultry farm in the region's Nagaibaksky District. Of the total, RUB3.5 billion (US$117.08 million) are to be borrowed.

Bektysh is expected to carry out a RUB3.5-billion (US$117.08 million) upgrade of a poultry farm in the Yektulsky District.

Uralbroiler is also expected to carry out a RUB1.8-billion (US$60.21 million) upgrade of a poultry farm in the Argayashsky District. Of the total, over RUB1.4 billion (US$46.83 million) are to be borrowed.