A 46,000-sow expansion project, worth the equivalent of £215m, has begun in Russia with the backing of the country’s Sberbank CIB bank.
The project, which is being carried out by the Cherkizovo Group, the largest meat manufacturer in Russia, is forecast to increase the company’s annual liveweight output to 330,000 tons, an advance of 70% on its current figures.
The construction of a pig-breeding unit in Russia’s Voronezh Region, which will produce 36,500 tons a year, is already underway and is due to begin operations at the end of 2015. Other work includes the construction of a 500,000-ton-a-year compound feed mill and new slaughtering and processing facilities in the city of Dankov in the Lipetsk Region.
“All of the pig farms will be built in accordance with modern requirements for veterinary safety,” said Cherkizovo’s general director, Sergei Mikhailov.
“We are pleased that our long-term partners from Sberbank have supported the import substitution initiative and made the decision to finance our project. The pig breeding segment has shown very good financial results and we are confident and optimistic about the future.”