News update:Mar 9, 2016

Rosselkhozbank invests in poultry complex in Tula Oblast

The Russian state-owned Rosselkhozbank has allocated over RUB 3.1 billion (US$ 49, 2 million) for the creation of a new poultry complex in Tula Oblast.

The construction of a high-tech enterprise for growing broilers and processing of poultry meat with the capacity to 51,000 tonnes per year will be carried out by LLC Volovskiy broiler. It is expected that the total cost of the investment will be more than RUB 3.1 billion (US$ 49.2 million).

First stage of production

Currently, Rosselkhozbank has opened a credit line of over RUB 2.6 billion (US$ 41.2 million), of which RUB 1 billion (US$ 15.8 million) has been invested in the construction of the first stage of the production facility.

The commissioning of the complex will be carried out in several stages. The company expects to launch the first one in Q3 2016.

"The implementation of a large-scale investment project in poultry farming will contribute to the development of agriculture and the economy of Tula Oblast", stated representatives of the bank. "The investment of Rosselkhozbank in the region will create about 900 new jobs and provide the population with dietary, environmentally friendly domestic products".

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