August 4, 2014

Russian meat giant Miratorg will invest an additional RUB1.4 billion (US$47 million) in a project to produce high-quality beef in the country's Bryansk Oblast region, covering the entire chain of beef production, from breeding 110,000 head of Aberdeen Angus cattle to a high-tech plant for slaughter and processing.

Total investment in the project now amounts to RUB27bn (US$757m), making the project the largest in beef production capacity in the post-Soviet Union era. Miratorg's latest project be officially launched in September 2014.

Miratorg has built 33 farms to keep 250,000 animals as part of this project. The company has already launched large feedlots to fatten up to 47,500 head of cattle. With such a large capacity, Miratorg is aiming to cover 20% of Russia's beef market demand, while a percentage of production will be exported.

The company also plans to build a plant for further processing of beef in 2015, also in Bryansk Oblast.