Russian meat producer to expand with $685 million poultry complex

Russian meat producer Cherkizovo has announced its expansion with a $685 million poultry complex, in Yelets in the central Russian Lipetsk region.
The complex will have broiler sites with 10 million poultry places, parent stock and reproduction flock sites for 900,000 heads and slaughtering and processing facilities, according to the company. It will also include facilities to produce 512,000 metric tons of poultry feed per year and to store up to 50,000 metric tons of frozen products.
The complex is expected to be built in 2013 and to reach full capacity by 2015. Of the total investment, 80% were provided by Gazprombank, a former banking unit of Russian energy giant Gazprom, as a 10-year loan, said Cherkizovo.