December 10, 2010

Russian state corporation to build US$407.14-million poultry farm

Samara Region's development corporation aims to start building a RUB12.617-billion (US$407.14-million) poultry farm and processing complex in September 2011, the economic development ministry said Thursday (Dec 9).

The annual production capacity of the complex is expected to reach 50,000 tonnes.

The corporation plans to spend RUB3.209 billion (US$103.55 million) of its own funds and a RUB9.260-billion (US$298.81 million) loan from state-owned Vnesheconombank (VEB) for the construction of the complex.

It plans to buy a feed mill plant in the village of Surgut in the Sergiyevsky district of the Samara Region in order build the complex there.

The first stage of the complex is expected to be built in September 2011 to December 2012 and the second stage is expected to be built in January 2013 up to December 2014.

The Samara Region government owns a 94% stake in the Corporation for the Development of the Samara Region and VEB owns a 6% stake.