July 31, 2012

Russian bank to provide loan for building meat processing complex

In order to construct a meat processing complex in Russia's republic of Kalmykia, the Russian Agricultural Bank plans to provide Beef Art, part of Prodkontrakt group of companies, a RUB2.7 billion (US$84 million) loan.

The capacity of the RUB3 billion (US$93 million) complex is 20,000 tonnes of meat.

Apart from the main production site, Beef Art plans to build a feeding facility, as well as a complex to process leather and a collagen containing raw materials in Kalmykia. The company also intends to launch a trade and logistics centre in the Moscow Region.

Established in 1992, Prodkontrakt handles the selling of beef and meat by-products of deep freeze. The group cooperates with leading producers of Europe, South and North America, and domestic suppliers.