Russia

Damate announces RUB 15.5 bn investment in capacity expansion

Poultry

Damate, the largest turkey meat producer from Russia, plans to invest 15.5 billion rubles (228 million euros) in expanding its production capacity to 155 thousand tons of turkey meat.

Posted on Oct 19 ,10:15

Damate announces RUB 15.5 bn investment in capacity expansion

 

According to Agro Investor, the company's total investment in the current project for the entire period of its implementation will amount to 41 billion rubles (over 600 million euros).

Rosselkhozbank, the Russian Agricultural Bank, has announced that it has issued a soft loan to Damate of 14 billion rubbles at an interest rate of 5% after it has received approval from the Rusian Ministry of Agriculture, according to a press release.

Damate's project will expand over a period of two years. According to Rosselkhozbank, the company will build additional turkey breeding and feeding areas and new production lines will be installed at the poultry processing plant, increasing its annual capacity.

In addition, Damate plans to purchase technological transport and additional land. As a result of the expansion of the production capacity, more than 2,000 new jobs will be created.

In 2016, Damate produced 60.8 thousand tons of turkey in slaughter weight. Now the company is completing the project of expanding the production capacity up to 110 thousand tons per year. As expected, production will grow in 2018, the total investment at this stage will be 25.6 billion rubles.

 NEWSLETTER - Stay informed with the latest news!

Comments





Similar articles

SCOTLAND

QMS continues efforts to engage Westminster and Holyrood on the importance of Scotland’s red meat supply chain

Following its successful showcase of the Scotch Beef, Scotch Lamb, and Specially Selected Pork br...


Read more Read more
WALES

HCC: Reducing calving intervals will save cash and boost productivity

The average calving interval for beef dams in Wales was 420 days in 2024, according to the l...


Read more Read more
INTERNATIONAL

How Ammeraal Beltech's uni DTB revolutionised production at Dovecote Park

Dovecote Park, a family-owned business renowned for producing premium British beef, veal, and ven...


Read more Read more
Websolutions by Angular Software and SpiderClass