RUSSIA - The largest meat market processor in Russia, ABH Miratorg, has become one of the strategic enterprises of the Russian Federation, holding a significant influence of the country’s economic situation.
In the move the company plans to expand production of high-quality domestic meat, with the support of the government.
Ministry of Economic Development of Russia provided a list of companies that have a significant influence on the formation of GDP, employment and social stability.
Profits of companies included in the list generate more than 70 per cent of the total national income, and the number of employees is more than 20 per cent of all people employed in the economy.
With more than 20,000 people employed in the company, a significant part of them work in the rural areas of the country, ABH Miratorg ranks first among Russian pork producers with 12.7 per cent market share and continues increasing production of basic types of meat within the strategy of import substitution.
With the support of Vnesheconombank and the Russian government, Miratorg started to implement a large-scale project to expand beef production, which would double the number of Aberdeen Angus cattle to 700,000 head, replacing more than 20 per cent of the country’s imports of this specialist meat.
"The inclusion of Miratorg in the list of strategic enterprises not only shows the importance of the company to ensure food security of the country, but also gives a clear signal of the government's support for our efforts to accelerate the development of domestic meat production,” said Viktor Linnik, President of ABH Miratorg.
“It's essential for us to work with the government on expanding our capacity, attracting investments and credit resources in order to launch new projects, as well as support of our products for the foreign markets."
TheMeatSite News Desk