Cherkizovo Secures RUB 15.4bn Loan To Boost Pork Business
Cherkizovo Group, the largest vertically integrated meat producer in Russia, has announced that it has secured a RUB 15.4 billion (€0.2 billion) loan from Alfa-Bank to upgrade its pork business.
The money will be used by Cherkizovo-Pork to build, refurbish, and upgrade pig farms, purchase equipment, and acquire breeding materials, hybrid breeder sows, machinery, and specialised vehicles.
The company will also build two sow farms and up to 20 nurseries and finisher sites with funds available under the open credit line.
It aims to build five nurseries and finisher sites during this year.
The meat producer's mid-term strategy for the pork business is to boost performance by using the most cutting-edge production facilities, and putting in place one of world’s best finisher nutrition programmes.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.