June 24, 2011

Russian pork producer to open credit line at Sberbank

Russian pork producer Altaisky Bekon plans to open a RUB2.5 billion (US$88.6 million), 9-year credit line at the Siberian branch of Russia's state-controlled Sberbank, according to branch head Vladimir Vorozheikin.

The interest rate was not provided.

Altaisky Bekon, a subsidiary of Belgorod Region-based company Prioskolye, plans to build a RUB5.5 billion (US$194 million) pork farm complex between 2011–2013. Its expected annual output capacity is 32,000 tonnes of meat.