Iranian group invests US$40 million in Russian meat and feed sector

A group of Iranian businessmen is planning to invest up to US$40 million in the construction of a livestock breeding complex and a feed plant in Russia's Chelyabinsk region by 2013, according to authorities.

The new livestock complex will be designed for 3,000 heads of cattle (1,000 heads of dairy cows and 2,000 heads of beef cows), while the feedmill will have the capacity to produce up to 30 tonnes of product per hour.

According to the Iranian side, the project will be fully implemented during the next three years. At its initial stage, the businessmen are planning to sow a small area of arable land in the Uvelsky area of the Chelyabinsk region.

The investors also said they do not exclude the possibility of constructing of a commercial egg plant in the same region designed for 1.2 million heads of poultry.

According to the local media reports, the Russian government has promised to provide all the possible cooperation to the investors of the project.