Cherkizovo Starts Construction of $696 Million Poultry Plant
This article is for subscribers only.
OAO Cherkizovo Group, Russia’s second-largest poultry producer, began construction yesterday of a new plant estimated to cost 19.5 billion rubles ($696 million).
The plant will start operating in 2013 and will reach its full capacity by the end of 2015, the Moscow-based company said today in a statement. OAO Gazprombank provided a 10-year loan that covers 80 percent of the project’s cost, it said. The factory is in the town of Yelets in the Lipetsk region.