September 22, 2010

Russia's Ravis to invest nearly US$100 million to double poultry output

Ravis-Ptitsefabrika Sosnovskaya plans to invest RUB3 billion (US$96.68 million) to double its annual poultry meat production to 100,000 tonnes by 2013, Darya Matushkina, a spokeswoman for the company, said Tuesday (Sep 21).

She said the Russian poultry producer would use a 1.5 billion ruble loan taken out from Sberbank to fund the deal.

Ravis-Ptitsefabrika Sosnovskaya, based in the Chelyabinsk Region, is one of Russia's top five poultry producers.