March 28, 2011

Russia's Albif to expand capacity in Lipetsk Region

Russia's Albif, a unit of agricultural company Zeros, plans to construct 50 meat farms in the Lipetsk Region in 2011-2013, said Zeros' Chairman of the board of directors Nikolai Bobin.

"In 2011, we are planning to build 18 meat farms. The total volume of investments in the construction of 50 farms is expected at about RUB1 billion (US$35.2 million), of which 20% are the company's own funds, and 80% of the investments are borrowed and leased funds, and investments from the regional budget," Bobin said.

The project would enable to increase the annual beef output in the region to 25,000 tonnes by 2015 from the current output of about 5,000 tonnes, he added.