Get the app today! Download iPhone App Download Android App

Cherkizovo Group To Invest RUB80bn In Expansion Project

Published on Jun 10 2021 7:59 AM in Supply Chain tagged: Russia / Meat Producer / Cherkizovo Group / Altai Territory / Lipetsk Region / Tula Region

Cherkizovo Group To Invest RUB80bn In Expansion Project

Cherkizovo Group has signed agreements with the leaders of the Altai Territory and the Tula and Lipetsk regions to invest over RUB 80 billion (€910 million) in expanding production facilities.

In the Tula Region, the meat producer will invest more than RUB 55 billion in new projects.

Cherkizovo signed two agreements with the region’s governor Alexey Dyumin to develop the meat-processing cluster in the Yefremov Territory.

Production Facility

The first agreement provides for the building of a facility for slaughtering, storage, and processing of pork, with a capacity of 4.2 million heads per year.

Gazprombank is a financial partner for the project, which will cost up to RUB 48 billion.

Under the second agreement, Cherkizovo will build a plant for broiler slaughtering and primary and further processing in 2023–2025 as part of the meat-processing cluster in the Yefremov District of the Tula Region.

The project is estimated to cost up to RUB 8.4 billion.

Sergey Mikhailov, CEO of Cherkizovo Group, commented: “We are pleased to announce new large-scale investments in our capacities. The agreements signed at the forum will kick off projects set to boost pork and poultry production in the next 2–3 years and strengthen our leadership in the domestic meat industry.”

Other Regions

Advertisement

Cherkizovo Group’s agreement with the head of the Lipetsk Region Administration, Igor Artamonov, calls for projects worth RUB 22.5 billion.

This will include the construction of six poultry farms for broiler production and four pig farms.

A 130 tonnes per hour feed mill and the second phase of the silo with a one-time grain storage capacity of 220,000 tonnes will also be built in the Lipetsk Region.

Elsewhere, the Cherkizovo Group signed an agreement with the Governor of the Altai Territory Viktor Tomenko to expand a poultry cluster.

The new investments will create close to 4,000 jobs across the various regions.

© 2021 European Supermarket Magazine. Article by Conor Farrelly. For more A-Brands news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email