Cherkizovo announces investment in new pig farms
Cherkizovo Group is strengthening its position in the Russian pork market by planning a new investment in pig farms. Four finisher sites will be built in the Tambov region and they will cost about RUB 8.5 billion ($115 million), announced the company. The project will enable the company to increase its annual pork capacity by more than 45,000 tonnes of meat. Cherkizovo also intends to invest more than RUB 4 bn ($53 million) in ramping up the local feed mill.
Maxim Yegorov, Acting Head of the Tambov Region Administration, held a working meeting with Sergey Mikhailov, CEO of Cherkizovo Group, last week. They discussed the company’s further development in the region, including a project to create new modern pig farms in the Pervomaysky District. Cherkizovo is planning to build four finisher sites, each capable of accommodating 40,000 pigs.
The project’s CAPEX is estimated at RUB 8.5 bn. The new sites will enable Cherkizovo Group to increase pork output by more than 45,000 tonnes of per year. The existing pig farms in central Russia today can produce over 300,000 of meat.
Along with building the new pig farms in the Tambov Region, Cherkizovo plans to ramp up the capacity of its feed mill that is also located in the Pervomaysky District. It currently supplies feed to the bird houses of Tambov Turkey (part of Cherkizovo Group). Following the launch of additional capacities in 2023, the mill is expected to reach an output of 60–80 tonnes of feed per hour. The Group's CAPEX in this project will exceed RUB 4 bn.
The construction of pig farms and the feed mill ramp-up will help create 200 new jobs in the Tambov Region. “In the next few years, Cherkizovo plans to significantly increase its meat processing volumes, which means that we are going to need additional pig farms. For their construction, we have opted for the Tambov Region thanks to its sound investment climate and many years of successful projects in pork, poultry, crop, and feed production,” said Sergey Mikhailov, CEO of Cherkizovo Group.
For the last decade, the Group invested more than $210 million in the region and has more than 2,500 employees in its production sites.
(Photo source: Hypor)
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