December 15, 2005

Russia's APK Agros to boost poultry output

Russian agricultural group APK Agros Wednesday said it will invest US$115 million in its unit Stavropol Broiler to push up chicken output to 80,000 tonnes a year by 2009.

The investment will be financed with money borrowed from credit institutions and contributed by strategic investors and shareholders.

The broilers produced in the southern Stavropol region will be sold mainly in southern Russia.

Stavropol Broiler was formed in 2003 as part of the APK Agros group. In 2004 the company produced 28,000 tonnes of poultry and intends to reach 38,000 tonnes this year. The company's turnover in 2005 is estimated at US$70 million.