December 5, 2011


Russia's Miratorg to invest US$80 million in cattle breeding farms


Miratorg plans to invest about RUB2.5 billion (US$80.8 million) in the construction of four cattle breeding farms in the Kaliningrad Region, President Viktor Linnik said Friday (Dec 2).


Miratorg, which includes a number of pig farms, animal feed plants, grain companies and a logistics company, intends to buy 12,000 heifers from Australia and the US in September 2012 for the farms.


However, Miratorg has not received the 20,000 hectares required for the four farms, Linnik said, adding that the holding intends to submit a request to the Agriculture Ministry to impose much higher taxes on landowners who neglect to use the land.


Miratorg plans to resume operations of the meat processing plant Concordia, now under reconstruction after a fire, in March 2012, Linnik added. Concordia is also located in the Kaliningrad Region.


Miratorg estimates total investments in the plant's reconstruction at RUB3 billion (US$96.9 million). Also, products from the plant are planned to be chiefly exported, Linnik also said.

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