February 17, 2011

Cherkizovo to build US$10.76-million meat plant

Cherkizovo Group, a major Russian meat producer, plans to invest RUB315 million (US$10.76 million) in the construction of a meat-processing plant in the Kaliningrad region, the regional Economy Ministry said Wednesday (Feb 16).

"The RUB315 million (US$10.76 million) investment gives the company a chance of getting a special economic zone resident status, in which the group is interested. The launch of the first stage of smoked products, ham and cooked sausage production is scheduled for this summer," the ministry said.

Production capacity of the plant will amount to 300 tonnes of sausages per month and it will create 150 jobs.

Cherkizovo has said that if the start of the project was successful, the company will develop its Kaliningrad subsidiary further by launching the second RUB230 million (US$7.86 million) stage this year. It will lead to a staff increase to 500 people and production capacity growth to 450 tonnes per month.