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Agricultural Bank to Invest in Beef Complex

03 August 2012

RUSSIA - The Russian Agricultural Bank, Rosselkhozbank, is to help finance the construction of a large meat-processing complex in the Republic of Kalmykia to be built by the meat processor Beef Art.

The company ill build a closed-loop beef processing plant with a capacity for 20 tonnes a yearin the Ketchenerovsky district of Kalmykia.

As well as primary production, the project will also include a modern housing fattening "feedlot", a complex processing of leather and collagen in Kalmykia and a trade and logistics centre in the Moscow region.

The total construction cost will amount to more than 3 billion rubles, of which 2.7 billion rubles will come from the Agricultural Bank's loan funds.

The project will contribute to the effective development of beef cattle, raising the investment attractiveness of the industry, providing residents of the region of high-quality and affordable products produced domestically.

TheMeatSite News Desk

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